What were the main drivers of revenue growth in the second quarter of 2026?

Revenue growth was primarily driven by the lodging segment, which increased by 13% due to higher Average Daily Rates (ADRs) and an increase in room nights. The B2B segment also contributed significantly with a 23% revenue increase. Additionally, trivago's advertising revenue surged by 48%, further boosting the top line.

How did profitability evolve during the reported period?

Profitability improved substantially. Operating income saw a significant increase of 65% year-over-year for the quarter and 153% for the six-month period. This strong performance translated into a more than doubling of net income attributable to Expedia Group, Inc. and a substantial rise in diluted Earnings Per Share (EPS).

What is the company's cash flow situation?

Expedia Group demonstrated strong operational cash flow generation. For the first six months of 2026, net cash provided by operating activities increased by $1.34 billion to $5.41 billion compared to the same period in 2025. This increase was attributed to higher working capital benefits, primarily from deferred merchant bookings and merchant accounts payable, as well as higher operating income.

What is Expedia Group's approach to capital return to shareholders?

Expedia Group continues to focus on returning capital to shareholders. They have substantial authorization remaining under their share repurchase programs, with $5.7 billion authorized as of June 30, 2026. The company also declared and paid dividends during the period, demonstrating a commitment to shareholder value.

EXPE 10-Q Quarterly Report Q2 FY2026 — Revenue, Net Income, EPS

01—Abstract

Summary

Summary of the 10-Q filed August 6, 2026. Cited figures are marked; the original filing is the authoritative source.

Expedia Group, Inc. reported a strong financial performance for the second quarter and first half of 2026.

Revenue increased by 14% year-over-year for both periods, reaching $4.32 billion^a and $7.74 billion respectively. This growth was primarily driven by a 13% increase in lodging revenue, fueled by higher ADRs and room nights, and a significant 48% surge in trivago advertising revenue. The B2B segment also showed robust growth, with gross bookings up 21% for the quarter and 22% year-to-date, contributing to a 23% revenue increase in Q2 and 24% for the first half.

Profitability saw a substantial improvement, with operating income rising by 65% in the quarter and 153% year-to-date. Net income attributable to Expedia Group, Inc. more than doubled year-over-year for both periods, reaching $878 million^b for the quarter and $872 million for the first half. This translated into a significant increase in diluted Earnings Per Share (EPS), which rose to $7.16 for the quarter and $7.05 year-to-date.

The company also demonstrated strong cash flow generation, with operating cash flow increasing by $1.34 billion^c year-over-year for the first six months. Expedia continued its commitment to returning capital to shareholders through share repurchases and dividends, with $5.7 billion remaining authorized under its repurchase programs.

02—Key points

Key Highlights

Total revenue grew 14% to $4.32 billion for the three months ended June 30, 2026, and 14% to $7.74 billion for the six months ended June 30, 2026, compared to the prior year periods.
Lodging revenue increased by 13% for both the three and six month periods, driven by higher ADRs and increased room nights.
trivago's third-party advertising revenue saw a substantial 48% increase for both the three and six month periods.
Operating income significantly increased by 65% to $800 million for the quarter and 153% to $1,051 million for the six months, demonstrating strong profitability.
Net income attributable to Expedia Group, Inc. rose dramatically to $878 million for the quarter and $872 million for the six months, reflecting the strong operational performance.
Diluted EPS improved significantly to $7.16 for the quarter and $7.05 for the six months, up from $2.48 and $0.96 respectively in the prior year.
Net cash provided by operating activities increased by $1.34 billion for the six months ended June 30, 2026, to $5.41 billion, indicating robust cash generation.

03—Questions

Frequently Asked Questions

What were the main drivers of revenue growth in the second quarter of 2026?
Revenue growth was primarily driven by the lodging segment, which increased by 13% due to higher Average Daily Rates (ADRs) and an increase in room nights. The B2B segment also contributed significantly with a 23% revenue increase. Additionally, trivago's advertising revenue surged by 48%, further boosting the top line.
How did profitability evolve during the reported period?
Profitability improved substantially. Operating income saw a significant increase of 65% year-over-year for the quarter and 153% for the six-month period. This strong performance translated into a more than doubling of net income attributable to Expedia Group, Inc. and a substantial rise in diluted Earnings Per Share (EPS).
What is the company's cash flow situation?
Expedia Group demonstrated strong operational cash flow generation. For the first six months of 2026, net cash provided by operating activities increased by $1.34 billion to $5.41 billion compared to the same period in 2025. This increase was attributed to higher working capital benefits, primarily from deferred merchant bookings and merchant accounts payable, as well as higher operating income.
What is Expedia Group's approach to capital return to shareholders?
Expedia Group continues to focus on returning capital to shareholders. They have substantial authorization remaining under their share repurchase programs, with $5.7 billion authorized as of June 30, 2026. The company also declared and paid dividends during the period, demonstrating a commitment to shareholder value.

04—Continue

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