Expedia Group, Inc. · EXPE · FY2024 Q3 · Calendar Q4 2024

Expedia Q3 2024: Guidance Raised as Advertising and Vrbo Improve

Expedia’s Q3 evidence supports a constructive operating trajectory: bookings growth, accelerating advertising, improving Vrbo trends, cost discipline, and raised full-year guidance. The case remains conditional on sustaining advertising momentum, converting investment into marketing leverage, and managing regulatory and travel-demand risks.

Reported After market closeNASDAQConsumer Cyclical $33.40B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $6.13 Consensus $6.04
EPS surprise +1.5% Reported versus consensus
Reported revenue $4.06B Consensus $4.11B
Revenue surprise -1.3% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +3.8% Event window
SPY move +0.4% Same window
Abnormal move +3.4% Stock minus SPY
Volume 3.0× Versus trailing sessions
Subsequent drift +4.8% Up to 20 sessions
EXPESPY benchmark

Ask FN2 about EXPE FY2024 Q3

Transcript, numbers and history already loaded

Free account. Your question opens in FN2 with this report's transcript and numbers attached.

Transcript intelligence

What changed

Compared with the prior quarter, the supplied analysis shows a stronger outlook: guidance sentiment changed from lowered to raised, Vrbo returned to modest growth, advertising revenue accelerated to 32% growth, and management highlighted expanded supply, AI-enabled conversion tools, and international investment.

Guidance delta

Raised: management increased full-year expectations to approximately 5% bookings growth and higher EBITDA margins.

Key takeaways

  • Gross bookings grew 7% year over year, led by lodging, consumer brands, and B2B partnerships.
  • Advertising revenue grew 32%, with new video-ad products under testing.
  • Vrbo returned to modest growth and added significant urban-focused supply.
  • Cost discipline supported margin improvement, while full-year guidance was raised.
  • The main watchpoints are marketing leverage, advertising durability, costs, and vacation-rental regulation.

Management priorities

  • Expand internationally with market-specific brand investment.
  • Add advertising products, including video ads.
  • Integrate more Vrbo supply and pursue B2B vacation-rental partnerships.
  • Enhance One Key loyalty features across brands and geographies.
  • Use AI and platform upgrades to improve conversion and self-service.

Follow EXPE with an agent that reads every filing, transcript, and price print. Free to start.

Try FN2 free

Earnings History

Estimate Beat Miss Match
EXPE REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q1 '24 estimate $3B Q1 '24 actual $3B, beat Q2 '24 estimate $4B Q2 '24 actual $4B, beat Q3 '24 estimate $4B Q3 '24 actual $4B, miss Q2 '25 estimate $4B Q2 '25 actual $4B, beat Q3 '25 estimate $4B Q3 '25 actual $4B, beat Q4 '25 estimate $3B Q4 '25 actual $4B, beat Q1 '26 estimate $3B Q1 '26 actual $3B, beat Q2 '26 estimate $4B Q2 '26 actual $4B, beat Q3 '26 estimate $5B Q4 '26 estimate $4B Q1 '27 estimate $4B
Show 1 more >

Analyst Consensus ?

ConsensusHold75 ratings
Bullish3546.7%
Neutral3850.7%
Bearish22.6%

Analyst 52W Price Targets

$291.72Current
$116Low
$243.08Average
$430High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 20, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Wells Fargo Equal Weight Equal WeightMaintainOct 7, 2026
BTIG Buy BuyMaintainOct 6, 2026
Truist Securities Hold HoldMaintainSep 30, 2026
Evercore ISI Group Outperform OutperformMaintainAug 24, 2026
Wedbush Outperform OutperformMaintainAug 20, 2026
Show 70 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $291.72. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Wells FargoKen Gawrelski$275$260.07 -5.7%Oct 7, 2026
Truist FinancialAnalyst unavailable$288$266.33 -1.3%Sep 30, 2026
Morgan StanleyMatthew Cost$235$293.08 -19.4%Sep 16, 2026
BTIGAnalyst unavailable$400$339.12 +37.1%Aug 25, 2026
Evercore ISIAnalyst unavailable$430$331.15 +47.4%Aug 24, 2026
See 131 more

Track every rating change on EXPE the moment it posts. Free to start.

Start free

Company context

Snapshot as of publication

Expedia Group, Inc. operates as a leading online travel company, serving customers both within the United States and across international markets. The enterprise structures its extensive operations into three primary divisions: Retail, Business-to-Business (B2B), and Trivago. Its comprehensive brand portfolio caters to diverse travel needs. Key retail brands include Brand Expedia, a full-service online travel platform offering localized websites; Hotels.com, specializing in the marketing and distribution of lodging accommodations; and Vrbo, an online marketplace dedicated to alternative accommodation options. Other prominent travel booking websites under its umbrella are Orbitz, Travelocity, and CheapTickets. For the EMEA region, ebookers functions as an online travel agent, presenting travelers with a broad spectrum of choices, while Hotwire provides various travel booking services.…

Historical context

All EXPE earnings

Latest beats and misses

Who reports next

Get the EXPE recap when the next report posts

One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.

Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2024-11-10T18:38:36.707185+00:00
  3. Polygon adjusted daily market bars · 2026-10-20T03:20:42.951457+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-20T03:20:42.948625+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-20. For educational purposes only; not investment advice.