EXPE · Full Picture

Expedia Group, Inc. — the full picture

Earnings window · 2026-07-16 to 2026-08-09 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

1. Capital Return Program · Buybacks & dividendsPriority 85
   -14.6% cash; 2 sources (press_release, sec_filing); 3 forward row(s); structured_verified
   In May 2026, the Audit Committee of the Board of Directors, pursuant to a delegation of authority from the Board, authorized a program to repurchase up to an additional $5 billion of our common stock ("2026 Share Repurchase Program").
2. Operating Income and Margins · Operating income & profitabilityPriority 81
   +128.2% operating_income (realized); 2 sources (press_release, sec_filing); quote_verified
   Operating income in Q2 2026: $800 million, up 65% year-over-year
3. Revenue Performance and Mix · Revenue growth & mixPriority 79
   +23.4% revenue (realized); 3 sources (news, press_release, sec_filing); quote_verified
   B2B Gross Bookings in Q2 2026: $10,742 million, up 21% year-over-year
4. Operating Cash Flow Trends · Cash flow generationPriority 78
   +35.9% cash (realized); 2 sources (press_release, sec_filing); quote_verified
   Net cash provided by operating activities in Q2 2026: $1,478 million, up 32% year-over-year
5. Operating Expense Trends · Operating expenses (SG&A)Priority 72
   -63.9% operating_income (realized); 2 sources (press_release, sec_filing); quote_verified
   Total costs and expenses - Selling and marketing - direct in Q2 2026: $2,119 million, representing 6.2% of Gross Bookings
6. Geographic Market Commentary · Geographic mixPriority 64
   +12.3% revenue (realized); quote_verified
   Revenue by U.S. points of sale in Q2 2026: $2,570 million, up 12% year-over-year
7. Income Tax Rate Changes · TaxPriority 64
   2 sources (press_release, sec_filing); 1 forward row(s); quote_verified
   Company adjusted its long-term projected tax rate to 20.0% to consider the net effect of U.S. tax law enacted in the third quarter of 2025
8. Guidance and Outlook · Guidance & outlookPriority 62
   +1.4% revenue; 2 sources (news, press_release); 4 forward row(s); quote_verified
   Expedia Group now expects Q3 2026 revenue in the range $4.65 billion to $4.75 billion.
9. Advertising Demand Trends · Demand, orders & backlogPriority 60
   3 sources (news, press_release, sec_filing); quote_verified
   trivago Advertising revenue increased 48% for both the three and six months ended June 30, 2026 compared to the same periods in 2025, driven by its strategic focus on brand rebuilding.
10. Long-term Debt Issuance · Debt, leverage & refinancingPriority 56
    -3.4% liability (realized); structured_verified
    In April 2026, we issued $1 billion of registered senior unsecured notes bearing interest at 5.5% due April 2036, issued at 99.384% of par with interest payable semi-annually beginning October 15, 2026 and net proceeds of approximately $986 million.
11. Lodging Marketplace Growth · UnclassifiedPriority 54
    quote_verified
    As a percentage of our total worldwide revenue in the second quarter of 2026, lodging accounted for 79%.
12. Liquidity and Debt Position · Debt, leverage & refinancingPriority 53
    -1.9% cash (realized); structured_verified
    On March 27, 2026, we entered into a new revolving credit facility with aggregate commitments of $2.5 billion which matures in March 2031 and replaced the previous facility; it was essentially untapped at June 30, 2026.

Threads by pillar

Revenue & Demand Priority 89 · 8 threads

• Revenue Performance and MixPriority 79 · News, Release, Filing
• Advertising Demand TrendsPriority 60 · News, Release, Filing
• Air Demand and CapacityPriority 40 · Filing
• Geographic Market CommentaryPriority 64 · Release
• Distribution ChannelsPriority 48 · Release
• One Key Loyalty ProgramPriority 38 · Filing
• B2B Channel GrowthPriority 33 · News
• Products and TechnologyPriority 38 · Release

Costs & Margins Priority 90 · 5 threads

• Operating Income and MarginsPriority 81 · Release, Filing
• Net Income and ProfitabilityPriority 35 · News
• Operating Expense TrendsPriority 72 · Release, Filing
• Headcount / RestructuringPriority 46 · Release, Filing
• Gross Margin DriversPriority 30 · Filing

Capital & Balance Sheet Priority 94 · 6 threads

• Capital Return ProgramPriority 85 · Release, Filing
• DividendsPriority 46 · News, Filing
• Operating Cash Flow TrendsPriority 78 · Release, Filing
• Long-term Debt IssuancePriority 56 · Filing
• Liquidity and Debt PositionPriority 53 · Filing
• Income Tax Rate ChangesPriority 64 · Release, Filing

Strategy & Portfolio Priority 35 · 2 threads

• Alternative Accommodations ExpansionPriority 32 · Filing
• Acquisition / Partnership / DivestiturePriority 32 · News

Legal, Regulatory & Policy Priority 42 · 1 thread

• Global Tax Regulatory ChangesPriority 42 · Filing

Guidance & Outlook Priority 62 · 1 thread

• Guidance and OutlookPriority 62 · News, Release

Macro & Market Conditions Priority 63 · 5 threads

• AI Competition and AdoptionPriority 38 · Filing
• Competition and New EntrantsPriority 32 · Filing
• FX / Currency ImpactPriority 44 · Release, Filing
• Interest Rate EnvironmentPriority 40 · Filing
• Macroeconomic Factors ImpactPriority 23 · Filing

Unclassified Priority 73 · 5 threads

• Lodging Marketplace GrowthPriority 54 · Filing
• IRS Transfer Pricing AuditsPriority 47 · Filing
• Liquidity and Debt PositionPriority 43 · Release
• AI Product DevelopmentPriority 38 · Filing
• Distribution Channels and PartnershipsPriority 31 · Filing

Expected impact by metric