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Visual31 Oct 2025
Three decades of Rolls-Royce
Expedia Group (EXPE) investor relations material
Expedia Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary7 Aug, 2025
Executive summary
Q2 2025 results exceeded expectations, with gross bookings up 5%, revenue up 6%, and adjusted EBITDA up 16% year-over-year, driven by strong B2B and advertising growth.
Adjusted EBITDA margin expanded by 190 basis points to 24%, and operating income grew 8% to $485M.
Booked room nights rose 7%, led by international markets.
Net income attributable to shareholders was $330M, down from $386M in Q2 2024.
$627M in share repurchases were completed, and a $0.40 per share dividend was declared.
Financial highlights
Gross bookings reached $30.4B, up 5% year-over-year; revenue was $3.8B, up 6% year-over-year.
Adjusted EBITDA was $908M, with a 24% margin; adjusted EPS rose 21% to $4.24.
Free cash flow (TTM) was $2B; Q2 free cash flow was $921M.
Advertising revenue grew 19% to $182M; trivago revenue up 28% to $98M.
Lodging revenue rose 6% to $3.04B; air revenue declined 5% to $105M.
Outlook and guidance
Q3 2025 guidance: gross bookings growth of 5–7%, revenue growth of 4–6%.
Full-year 2025 guidance raised: gross bookings up 4–7%, revenue up 4–6%, and adjusted EBITDA margin expansion of 100 bps.
Q4 growth expected to moderate due to tough comps and ongoing U.S. consumer uncertainty.
Management notes ongoing macroeconomic and geopolitical pressures impacting travel demand, especially in the U.S.
Expects continued B2B growth and benefits from unified technology platform.
How does Expedia plan to capitalize on its assets?
What drove the 17% growth in B2B gross bookings?
What is driving the increase in full year guidance?
How did Southwest partnership impact passenger volume?
What factors drive B2B growth in Asia?
Elaborate on plans to tailor One Key to each brand.
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Next Expedia Group earnings date
Q3 20256 Nov, 2025
Next Expedia Group earnings date
Q3 20256 Nov, 2025
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Frequently asked questions
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Expedia Group is a well-known online travel company that specializes in providing travel and accommodation services to customers worldwide. The company operates an extensive platform that allows users to search, compare, and book flights, hotels, vacation rentals, car rentals, cruises, and other travel-related services. Expedia's platform offers a wide range of options, catering to different budgets, preferences, and destinations, making it a popular choice for travelers seeking convenience and affordability.
Expedia Group operates through two main business segments: Core OTA (Online Travel Agency) and Trivago. The Core OTA segment includes Expedia.com, Hotels.com, Orbitz, Travelocity, and other online travel brands that provide a comprehensive suite of travel services. Trivago, on the other hand, is a metasearch platform that allows users to compare hotel prices and availability across various booking sites, helping them find the best deals.
Started off within Microsoft
Expedia Group is headquartered in Seattle, Washington, and was founded in 1996 as a division of Microsoft. It later became an independent company in 1999. Expedia has grown over the years through strategic acquisitions and partnerships, expanding its global footprint and enhancing its service offerings.
The company operates in over 200 countries and territories, serving millions of customers annually. Expedia's platform is available in multiple languages, ensuring accessibility for a diverse customer base. With its user-friendly interface, advanced search algorithms, and comprehensive travel options, Expedia has become a go-to platform for travelers seeking a seamless booking experience.
Expedia also offers additional services to enhance the travel experience, such as activities, attractions, and travel insurance. The company's goal is to provide customers with a one-stop-shop for all their travel needs, making it easier and more convenient to plan and book their trips.
Competitive landscape
Expedia Group faces competition from other prominent players in the online travel industry. Three notable competitors are Booking Holdings Inc., which owns Booking.com and other travel brands, Airbnb, a popular platform for vacation rentals, and Tripadvisor, a well-known travel review and booking website. These competitors also offer a range of travel services and strive to attract and retain customers in a highly competitive market.
In summary, Expedia Group is a leading online travel company that offers a comprehensive range of travel and accommodation services. With its extensive platform, global presence, and commitment to customer satisfaction, Expedia has established itself as a trusted and convenient choice for travelers worldwide.
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