Filing Flows › Expedia Group (EXPE) › Q2 2026 › vs Q2 2025
Expedia Group (EXPE) Q2 2026 vs Q2 2025 (year over year)
Expedia Group's revenue rose $529M (+14%) from $3.8B in Q2 2025 to $4.3B in Q2 2026. The biggest changes: Lodging +$389M (+13%); Other +$83.0M (+23%); trivago Advertising +$47.0M (+48%). Operating margin 18.5% against 12.8% (+5.7 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 18.5% | 12.8% | +5.7 pts |
| Net margin | 20.3% | 8.7% | +11.6 pts |
| Free cash flow margin | 29.6% | 24.3% | +5.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Lodging | $3.4B | $3.0B | $389M | +13% |
| Other | $444M | $361M | $83.0M | +23% |
| Expedia Group (“EG”) Advertising | $206M | $182M | $24.0M | +13% |
| trivago Advertising | $145M | $98.0M | $47.0M | +48% |
| Air | $91.0M | $105M | −$14.0M | -13% |
| Revenue | $4.3B | $3.8B | $529M | +14% |
| Other income, net | $227M | −$62.0M | $289M | — |
| Operating profit | $800M | $485M | $315M | +65% |
| Costs & expenses | $3.5B | $3.3B | $214M | +6% |
| Pre-tax earnings | $1.0B | $423M | $604M | +143% |
| Cost of revenue | $403M | $377M | $26.0M | +7% |
| Sales & marketing | $2.1B | $1.9B | $199M | +10% |
| General & admin | $204M | $197M | $7.0M | +4% |
| Other operating costs | $789M | $807M | −$18.0M | -2% |
| Loss borne by minority interests | $3.0M | $8.0M | −$5.0M | -62% |
| Net earnings | $878M | $330M | $548M | +166% |
| Income tax | $152M | $101M | $51.0M | +50% |
| Depreciation & amortization | $228M | $223M | $5.0M | +2% |
| Share-based compensation | $114M | $105M | $9.0M | +9% |
| Working capital & other | $258M | $463M | −$205M | -44% |
| Operating cash flow | $1.5B | $1.1B | $357M | +32% |
| Free cash flow (OCF − capex) | $1.3B | $921M | $358M | +39% |
| Capital expenditures | $199M | $200M | −$1.0M | -0.5% |
Questions
How much did Expedia Group's revenue grow year over year in Q2 2026?
Expedia Group's revenue rose $529M (+14%) from $3.8B in Q2 2025 to $4.3B in Q2 2026.
What drove Expedia Group's revenue change in Q2 2026?
Lodging +$389M (+13%); Other +$83.0M (+23%); trivago Advertising +$47.0M (+48%).