Expedia Group (EXPE) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Expedia Group published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Expedia Group reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Gross Bookings ($34,008 million in Q3 2026) are the value of travel booked, not revenue. Expedia Group's revenue is what it keeps: 14.5% of Gross Bookings in the quarter.
• Expedia Group's results are seasonal: Q1 2026 and Q1 2025 were both diluted losses per share (-$0.05 and -$1.56), and the third quarter had the highest revenue of each year in the release's trended table.

Source: Expedia Group Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Expedia Group splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Expedia Group's B2C revenue was $3.1 billion in Q3 2026, up 6% from $2.9 billion in Q3 2025, 62% of total revenue.
• Expedia Group's B2B revenue was $1.7 billion in Q3 2026, up 23% from $1.4 billion in Q3 2025, 35% of total revenue.
• Expedia Group's trivago (Third-party revenue) revenue was $165 million in Q3 2026, up 20% from $137 million in Q3 2025, 3% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Expedia Group gives its outlook as a table in the release. These lines are the Q4 2026 rows; the full-year 2026 figures are in the expectations section below.

In its Q3 2026 release, Expedia Group said:

“Gross Bookings $27.9-$28.4B +3.3-5.2%”

“Revenue $3.69-$3.75B +4.0-5.7%”

Source: Expedia Group Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the EXPE forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenue and GAAP diluted EPS, each as first reported in that quarter's release. Q1 2026 was a diluted loss per share.

We do not hold a confirmed date for Expedia Group's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Expedia Group reports two main segments. B2C, its consumer brands Expedia.com, Hotels.com and Vrbo, brought in $3,065 million of Q3 2026 revenue, up 6%. B2B, which supplies travel to airlines, offline travel agents, online retailers, corporate travel managers and financial institutions, brought in $1,708 million, up 23%. trivago's third-party revenue was $165 million, for total revenue of $4,938 million, up 12%. (Expedia Group Q3 2026 release, Nov 4, 2026; Expedia Group Form 10-Q, Q3 2026, Nov 5, 2026)

Lodging is most of Expedia Group's revenue: $3,991 million in Q3 2026, up 11%, which the 10-Q attributes to more room nights stayed in its hotel business and higher ADRs stayed. Air revenue fell 7% to $93 million on fewer tickets sold and lower revenue per ticket, EG Advertising rose 7% to $206 million, and Other revenue, mainly insurance, car rental, destination services and cruise, rose 28% to $483 million. (Expedia Group Form 10-Q, Q3 2026, Nov 5, 2026; Expedia Group Q3 2026 release, Nov 4, 2026)

Gross Bookings were $34,008 million, up 11%, with B2C Gross Bookings of $22,862 million (up 7%) and B2B Gross Bookings of $11,146 million (up 19%). Booked room nights rose 7% to 115.7 million and the average daily rate booked rose 2% to $215.0. Expedia Group's presentation puts room night growth in the U.S. at mid single-digits, EMEA at low single-digits and Rest of World at mid-teens. (Expedia Group Q3 2026 release, Nov 4, 2026; Expedia Group Q3 2026 earnings presentation, Nov 4, 2026)

U.S. points of sale produced $2,845 million of revenue and non-U.S. points of sale $2,093 million, each up 12%. Merchant bookings, where Expedia Group takes the traveler's payment, were $21,653 million of Gross Bookings, against $12,355 million for agency bookings. Under the merchant model it collects cash at booking and pays most lodging suppliers after the stay, and deferred merchant bookings stood at $12,579 million at September 30, 2026. (Expedia Group Q3 2026 release, Nov 4, 2026; Expedia Group Form 10-Q, Q3 2026, Nov 5, 2026)

Expedia Group's 10-K lists approximately 3.6 million lodging properties at the end of 2025, including approximately 2.4 million online bookable alternative accommodations through Vrbo and approximately 1.2 million hotels and alternative accommodations through its other brands. (Expedia Group Form 10-K, 2025, Feb 13, 2026)

Expedia Group's GAAP diluted EPS was $8.42 in Q3 2026, against adjusted EPS of $9.39. The largest per-share items excluded from adjusted EPS were stock-based compensation ($0.99), restructuring charges ($0.23) and legal reserves, occupancy tax and other ($0.11), net of a gain on minority equity investments ($0.07) and a gain on revenue hedges ($0.15). (Expedia Group Q3 2026 release, Nov 4, 2026)

GAAP EPS rose 15% while net income attributable to Expedia Group rose 7% to $1,030 million, because diluted shares fell to 122,280 thousand from 131,014 thousand. Expedia Group repurchased approximately 2 million shares for $576 million in Q3 2026 and 6.2 million shares for $1.5 billion over the first nine months, at an average of $239.47, with $5.1 billion authorized for further repurchases at September 30, 2026. It paid a quarterly dividend of $0.48 per share. (Expedia Group Q3 2026 release, Nov 4, 2026; Expedia Group Form 10-Q, Q3 2026, Nov 5, 2026)

The effective tax rate was 20.3%, against 14.7% a year earlier. Expedia Group's 10-Q says the change was primarily due to unrecognized tax benefits recorded in Q3 2025 in connection with a U.S. federal income tax audit. The year-ago quarter also included a $133 million gain on minority equity investments. (Expedia Group Form 10-Q, Q3 2026, Nov 5, 2026; Expedia Group Q3 2026 release, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Expedia Group gives quarterly and full-year guidance in its release. For Q4 2026 it guided Gross Bookings of $27.9 billion to $28.4 billion, revenue of $3.69 billion to $3.75 billion and adjusted EBITDA of $830 million to $880 million. (Expedia Group Q3 2026 release, Nov 4, 2026)

Expedia Group raised its full-year 2026 guidance to Gross Bookings of $131.4 billion to $131.9 billion (from $129.5 billion to $130.8 billion), revenue of $16.37 billion to $16.43 billion (from $16.05 billion to $16.22 billion) and adjusted EBITDA margin expansion of 1.8 to 2.0 points (from 1.5 to 1.75 points). (Expedia Group Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Expedia Group, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Expedia Group's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning EXPE is on is EXPE a buy or a sell?, what analysts expect next is on the EXPE forecast, and what the company does is on the Expedia Group (EXPE) stock page.

Every number on this page can be traced to a document Expedia Group published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.