Expedia Stock Earnings Reports

Expedia Group reported a strong Q1 2026: gross bookings rose 13% to $35.5B, revenue increased 15% to $3.4B, and adjusted EBITDA was $542M with a 15.8% margin (nearly 600 bps expansion year-over-year). Booked room nights were up 6% (U.S. mid-single digits; EMEA low single digits; rest-of-world low double digits). Consumer bookings grew 10% (revenue +8%) with notable momentum at Vrbo and Expedia; vacation rentals on Expedia reached a $1B annualized run rate. B2B bookings grew 22% (revenue +25%), led by Rapid API and new partnerships (e.g., exclusive Bank of Montreal AIR MILES deal and an exclusive hotel partnership with Uber). AI is a company priority: Expedia is using AI across personalization, supplier onboarding, content enrichment, and servicing (30%+ of service interactions powered by AI), and experimenting with AI-driven distribution channels (e.g., ChatGPT ads, Answer Engine Optimization). FX helped results modestly (≈3 pts bookings, ≈5 pts revenue). Management emphasized continued marketing discipline and cost efficiency: consumer marketing spend declined while consumer EBITDA margin expanded ~900 bps to ~20%. Cash/ liquidity remained strong ($5.8B unrestricted cash & short-term investments), the company retired $1.75B short-term debt, issued $1B long-term debt post-quarter, and announced a new $5B share repurchase authorization (Q1 repurchases: $700M). Outlook: Q2 bookings growth guide of 7–9% and revenue growth 9–11%; full-year reiterated at bookings growth 6–8% and revenue growth 6–9%, with expected full-year EBITDA margin expansion of 100–125 bps (management expects to be at the high end). Headwinds in March from the Middle East conflict and Mexico travel advisories increased cancellations, especially impacting B2B; cancellations largely stabilized in April with bookings improving.