Filing Flows › Expedia Group (EXPE) › Q2 2025
Expedia Group (EXPE) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Expedia Group (EXPE) reported revenue of $3.8B for the second quarter 2025 (Q2 2025), +6% from a year earlier and +27% from the quarter before. Operating margin was 12.8%, net earnings $330M (8.7% of revenue).
Expedia Group, Q2 2025: revenue $3.8B (+6% year over year), operating margin 12.8%, net earnings $330M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.8B | +27% | +6% |
| Operating profit | $485M | — | +8% |
| Net earnings | $330M | — | -15% |
| Operating cash flow | $1.1B | -62% | -25% |
| Free cash flow | $921M | — | -30% |
What changed
Revenue was $3.8B in Q2 2025, up 6% year over year and up 27% from the previous quarter. Lodging was the largest line at 80% of revenue. Lodging added $0.18B year over year (up 6%), 78% of the total change. Air declined 5%.
Operating profit was $0.48B, a 12.8% margin (up 0.1 points year over year). Of the extra revenue versus a year earlier, 15% reached operating profit, above the 13% margin then. Total costs grew 6% against revenue growth of 6%. Net earnings were $0.33B, down 15% year over year ($0.32B including minority interests, which bore $0.01B of losses). The effective tax rate was 23.9%.
Operating cash flow was $1.1B (down 25% year over year), 348% of net income including minority interests. Non-cash charges added back $0.22B of depreciation and amortization and $0.10B of share-based compensation. Working capital and other items added $0.47B. After total capital expenditures ($0.20B), free cash flow as the company reports it was $0.92B.
Questions
What was Expedia Group's revenue in the second quarter 2025?
Expedia Group (EXPE) reported revenue of $3.8B for the second quarter 2025 (Q2 2025), +6% from a year earlier and +27% from the quarter before.
Was Expedia Group profitable in the second quarter 2025?
Operating profit was $485M (12.8% of revenue) and net earnings $330M.
Source: Expedia Group 10-Q on SEC EDGAR.