Expedia Group, Inc. · EXPE · FY2025 Q1 · Calendar Q2 2025

Expedia Holds Guidance as B2B and Advertising Offset U.S. Weakness

The quarter supports a mixed but constructive operating picture: international B2B, advertising and cost discipline helped offset U.S. consumer softness, while the raised margin target strengthens the efficiency case. The main test is whether these offsets can persist without a broader consumer recovery.

Reported After market closeNASDAQConsumer Cyclical $29.64B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $0.43
EPS surprise — Reported versus consensus
Reported revenue — Consensus $3.01B
Revenue surprise — Reported versus consensus

Market reaction

event-close to next-session close
Stock move -7.3% Event window
SPY move -0.1% Same window
Abnormal move -7.2% Stock minus SPY
Volume 3.1× Versus trailing sessions
Subsequent drift +12.7% Up to 20 sessions
EXPESPY benchmark

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Transcript intelligence

What changed

Management maintained overall guidance but raised the full-year EBITDA margin-expansion target to 75–100 basis points. The quarter also highlighted new airline inventory, AI product work and restructuring benefits, alongside continued U.S. consumer weakness.

Guidance delta

Overall guidance was maintained; the full-year EBITDA margin-expansion target was raised to 75–100 basis points.

Key takeaways

  • Bookings and revenue remained within guidance despite a soft U.S. market.
  • B2B bookings grew 14% and advertising revenue grew 20%, outpacing the consumer segment.
  • AI initiatives span the shopping funnel, traffic acquisition and internal operations.
  • Cost actions expanded EBITDA margin by more than one point, while the full-year margin target was raised.

Management priorities

  • Roll out AI features across the traveler shopping funnel and internal tools.
  • Expand B2B supply and partnerships, particularly in APAC.
  • Launch new advertising products, including video ads and AI-driven bidding.
  • Continue cost savings and reinvest part of the savings in growth initiatives.

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Earnings History

Estimate Beat Miss Match
EXPE EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q1 '24 estimate $-0.14 Q1 '24 actual $0.21, beat Q2 '24 estimate $3.06 Q2 '24 actual $3.51, beat Q3 '24 estimate $6.04 Q3 '24 actual $6.13, beat Q2 '25 estimate $3.97 Q2 '25 actual $4.24, beat Q3 '25 estimate $6.97 Q3 '25 actual $7.57, beat Q4 '25 estimate $3.35 Q4 '25 actual $3.78, beat Q1 '26 estimate $1.41 Q1 '26 actual $1.96, beat Q2 '26 estimate $5.22 Q2 '26 actual $5.76, beat Q3 '26 estimate $8.83 Q4 '26 estimate $4.37 Q1 '27 estimate $2.31
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Analyst Consensus ?

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

Analyst 52W Price Targets

$274.22Current
$116Low
$243.08Average
$430High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 9, 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 $274.22. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Wells FargoKen Gawrelski$275$260.07 +0.3%Oct 7, 2026
Truist FinancialAnalyst unavailable$288$266.33 +5.0%Sep 30, 2026
Morgan StanleyMatthew Cost$235$293.08 -14.3%Sep 16, 2026
BTIGAnalyst unavailable$400$339.12 +45.9%Aug 25, 2026
Evercore ISIAnalyst unavailable$430$331.15 +56.8%Aug 24, 2026
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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

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-04-24T00:01:17.206701+00:00
  3. Polygon adjusted daily market bars · 2026-10-09T18:40:45.135893+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-09T18:40:45.132262+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 2026-10-09. For educational purposes only; not investment advice.