Expedia Group, Inc. earnings overview

EXPE FY2026 Q1 · Calendar Q2 2026

Expedia Group, Inc.

Expedia's Q1 2026 results exceeded estimates across the board — bookings up 13%, revenue up 15%, and the highest Q1 EBITDA margin in 15 years — yet shares fell roughly 10% in the session following the report. EPS of $1.96 beat consensus of $1.41 by 39%, and revenue of $3.43B beat the $3.35B estimate by 2.2%. The negative market reaction reflects a 'beat but not raise' dynamic: despite surpassing estimates on every line, management maintained rather than raised full-year guidance, and Q2 bookings growth is projected to decelerate to 7-9% from Q1's 13%. AI-driven efficiency, B2B API strength (up 22%), and the exclusive Uber hotel partnership are genuine bright spots highlighted by management, but the market weighed the growth slowdown and macro headwinds (Middle East conflict, Mexico travel advisories) more heavily than the margin achievement. The stock has since drifted an additional…