Filing Flows › Expedia Group (EXPE) › Q3 2025
Expedia Group (EXPE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Expedia Group (EXPE) reported revenue of $4.4B for the third quarter 2025 (Q3 2025), +9% from a year earlier and +17% from the quarter before. Operating margin was 23.5%, net earnings $959M (21.7% of revenue).
Expedia Group, Q3 2025: revenue $4.4B (+9% year over year), operating margin 23.5%, net earnings $959M, operating cash flow −$497M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.4B | +17% | +9% |
| Operating profit | $1.0B | +114% | +36% |
| Net earnings | $959M | +191% | +40% |
| Operating cash flow | −$497M | -144% | — |
What changed
Revenue was $4.4B in Q3 2025, up 9% year over year and up 17% from the previous quarter. Lodging was the largest line at 82% of revenue. Lodging added $0.29B year over year (up 9%), 82% of the total change. Air declined 3%.
Operating profit was $1.0B, a 23.5% margin (up 4.7 points year over year). Of the extra revenue versus a year earlier, 78% reached operating profit, above the 19% margin then. Total costs grew 2% against revenue growth of 9%. Net earnings were $1.0B, up 40% year over year. The effective tax rate was 14.8%.
Operating cash flow was −$0.50B. Non-cash charges added back $0.23B of depreciation and amortization and $0.09B of share-based compensation. Working capital and other items used $1.8B. Capital expenditures of $0.19B exceeded it, leaving free cash flow of −$0.69B.
Questions
What was Expedia Group's revenue in the third quarter 2025?
Expedia Group (EXPE) reported revenue of $4.4B for the third quarter 2025 (Q3 2025), +9% from a year earlier and +17% from the quarter before.
Was Expedia Group profitable in the third quarter 2025?
Operating profit was $1.0B (23.5% of revenue) and net earnings $959M.
Source: Expedia Group 10-Q on SEC EDGAR.