Filing Flows › Expedia Group (EXPE) › Q2 2026 › vs Q1 2026
Expedia Group (EXPE) Q2 2026 vs Q1 2026 (quarter over quarter)
Expedia Group's revenue rose $889M (+26%) from $3.4B in Q1 2026 to $4.3B in Q2 2026. The biggest changes: Lodging +$819M (+31%); Other +$57.0M (+15%); trivago Advertising +$20.0M (+16%). Operating margin 18.5% against 7.3% (+11.2 pts).
Expedia Group, Q2 2026: revenue $4.3B (+14% year over year), operating margin 18.5%, net earnings $878M, operating cash flow $1.5B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 18.5% | 7.3% | +11.2 pts |
| Net margin | 20.3% | -0.2% | +20.5 pts |
| Free cash flow margin | 29.6% | 109.4% | -79.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Lodging | $3.4B | $2.6B | $819M | +31% |
| Other | $444M | $387M | $57.0M | +15% |
| Expedia Group (“EG”) Advertising | $206M | $197M | $9.0M | +5% |
| trivago Advertising | $145M | $125M | $20.0M | +16% |
| Air | $91.0M | $107M | −$16.0M | -15% |
| Revenue | $4.3B | $3.4B | $889M | +26% |
| Other income, net | $227M | −$226M | $453M | — |
| Operating profit | $800M | $251M | $549M | +219% |
| Costs & expenses | $3.5B | $3.2B | $340M | +11% |
| Pre-tax earnings | $1.0B | $25.0M | $1.0B | 41× |
| Cost of revenue | $403M | $377M | $26.0M | +7% |
| Sales & marketing | $2.1B | $1.9B | $263M | +14% |
| General & admin | $204M | $196M | $8.0M | +4% |
| Other operating costs | $789M | $746M | $43.0M | +6% |
| Loss borne by minority interests | $3.0M | $6.0M | −$3.0M | -50% |
| Net earnings | $878M | −$6.0M | $884M | — |
| Income tax | $152M | $37.0M | $115M | +311% |
| Depreciation & amortization | $228M | $228M | $0 | 0% |
| Share-based compensation | $114M | $103M | $11.0M | +11% |
| Working capital & other | $258M | $3.6B | −$3.3B | -93% |
| Operating cash flow | $1.5B | $3.9B | −$2.5B | -62% |
| Free cash flow (OCF − capex) | $1.3B | $3.7B | −$2.5B | -66% |
| Capital expenditures | $199M | $184M | $15.0M | +8% |
Questions
How much did Expedia Group's revenue grow quarter over quarter in Q2 2026?
Expedia Group's revenue rose $889M (+26%) from $3.4B in Q1 2026 to $4.3B in Q2 2026.
What drove Expedia Group's revenue change in Q2 2026?
Lodging +$819M (+31%); Other +$57.0M (+15%); trivago Advertising +$20.0M (+16%).