Expedia Group

Expedia Group, Inc. (Expedia Group) is a travel marketplace based in Seattle, Washington. Its consumer brands are Expedia, Hotels.com and Vrbo. It also runs a business-to-business (B2B) platform that sells travel to partners, an advertising network and trivago.

It has three segments: B2C, B2B and trivago. In Q3 2026, gross bookings were $34.0 billion, of which B2C was $22.9 billion, and revenue was $4,938 million. Revenue was $12,679 million for nine months of 2026.

Ariane Gorin is Chief Executive Officer, and Derek Andersen has been Chief Financial Officer since May 2026. Its common stock trades on the Nasdaq Stock Market in US dollars. It also has Class B common stock, with 5,523,452 shares outstanding at October 23, 2026.

The price of Expedia Group depends on whether it can keep gross bookings growth near 10% while margins rise and it returns cash to owners. In Q3 2026, gross bookings rose 11% to $34.0 billion, revenue rose 12% to $4,938 million, and adjusted EBITDA rose 17% to $1,689 million at a margin of 34.2%. B2B revenue rose 23% and B2B gross bookings rose 19%, while B2C gross bookings rose 7%. The company raised its guidance for 2026 to revenue of $16.37 billion to $16.43 billion and adjusted EBITDA margin up 1.8 to 2.0 points.

But the guide for Q4 revenue growth is only 4.0% to 5.7%, and booked air tickets fell 6% in Q3. For the price to hold or rise, three things must be true. B2B must keep growing faster than B2C. Travel demand must stay strong while the average daily rate, which rose only 2%, grows slowly.

Buybacks, which were $576 million in Q3, and the dividend of $0.48 per share each quarter must continue without more debt. The next tests are the Q4 2026 report in February 2027 and its outlook for 2027.

1. Feb 11, 2027 · est.Pending

   Q4 2026 results and the outlook for 2027Revenue lands in the guided range of $3.69 billion to $3.75 billion and the outlook for 2027 shows growth of gross bookings and margin expansion, and this passes; a cut to growth or a lower margin fails.
2. May 2027 · est.Pending

   Q1 2027 results: B2B growth and marginB2B revenue keeps growing faster than B2C and adjusted EBITDA margin rises, and this passes; slower B2B growth or a falling margin fails.

Every passed and failed checkpoint across all picks

• November 4, 2026Expedia Group reported Q3 2026 results. Gross bookings rose 11% to $34,008 million, revenue rose 12% to $4,938 million and operating income rose 28% to $1,326 million. Adjusted EBITDA rose 17% to $1,689 million, and adjusted EPS rose 24% to $9.39. Booked room nights rose 7%.
• November 4, 2026Expedia Group raised its guidance for 2026 to gross bookings of $131.4 billion to $131.9 billion and revenue of $16.37 billion to $16.43 billion. For Q4 it guided revenue of $3.69 billion to $3.75 billion and adjusted EBITDA of $830 million to $880 million. It declared a dividend of $0.48 per share, payable on December 10, 2026.
• November 4, 2026Expedia Group said that it bought back about 2.0 million shares for $576 million in Q3. In May 2026 it authorized a new program of up to $5 billion, and $5.1 billion remained under its programs at September 30, 2026.

Last earnings

November 4, 2026 (8-K on sec.gov)

Next earnings

Expected about February 11, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed November 5, 2026 · expe-20260930
• 8-KEarnings release and Investor disclosureFiled November 4, 2026 · Press release and exhibits
• 10-QQuarterly report for the period ended Jun 30, 2026Filed August 6, 2026 · expe-20260630
• 8-KEarnings release and Investor disclosureFiled August 5, 2026 · Press release and exhibits
• 8-KShareholder vote resultsFiled June 23, 2026 · expe-20260617
• 10-QQuarterly report for the period ended Mar 31, 2026Filed May 8, 2026 · expe-20260331
• 8-KEarnings release and Other company newsFiled May 7, 2026 · Press release and exhibits
• 8-KChange of directors or officers and Investor disclosureFiled April 23, 2026 · expe-20260417
• 8-KOther company newsFiled April 10, 2026 · Read it on sec.gov
• 8-KNew material agreement and End of a material agreementFiled March 30, 2026 · Read it on sec.gov

Every filing on SEC EDGAR (CIK 1324424)

• Growth is slowing. The guide for Q4 revenue growth is 4.0% to 5.7%, against 12% in Q3. Booked air tickets fell 6% in Q3, and the average daily rate rose only 2%.
• Rules and taxes for short-term rentals and lodging can cost money. The company records legal reserves and occupancy tax items, which were $86 million in Q3 2025 and a net gain of $45 million for nine months of 2026.
• Travel demand can fall in a weak economy. Expedia Group says that travel demand is resilient now. A fall in spending would hit gross bookings, which are the base of its revenue.
• Debt and buybacks use cash. Total debt was $5,460 million, with $749 million due within 12 months. It paid $1.5 billion for 6.2 million shares in nine months.
• Voting control is concentrated. The company lists concentrated voting control and possible conflicts of interest among its risks.

At September 30, 2026, Expedia Group had cash and cash equivalents of $5,040 million, restricted cash of $1,543 million and short-term investments of $527 million. Much of the cash is money from travelers for trips not yet taken: deferred merchant bookings were $12,579 million. Read more

Yield at the current rate

0.7% (current annual rate, at today’s price)

Dividend yield

0.7% (last 12 months, at today’s price of $259.79)

Paid per share

$1.84 in the last 12 months (4 payments)

Current annual rate

$1.92 ($0.48 × 4 a year)

Payout ratio

16% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

August 27, 2026, $0.48 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 36.3% a year. From 2015 to 2025, the dividend grew by about 6.7% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.