EXPE · 8-K · 20260805PR000051

Operating Income and Margins

Expedia Group, Inc. · 2026-08-05 · Importance 62 · Surprise 46 · No source text

Second-quarter operating income increased 65% year over year to $800 million from $485 million, and GAAP net income attributable to Expedia Group increased 166% to $878 million. Adjusted EBITDA increased 23% to $1,119 million, with adjusted EBITDA margin expanding 196 basis points to 25.9% from 24.0%. B2C adjusted EBITDA increased 22% to $889 million and its margin expanded 380 basis points to 33.2%, while B2B adjusted EBITDA increased 12% to $369 million and its margin declined 258 basis points to 24.8%. The consolidated revenue margin increased 27 basis points to 12.7%, while adjusted cost of revenue declined 61 basis points to 9.2% of revenue.

Key facts

• Operating income in Q2 2026: $800 million, up 65% year-over-year source
• GAAP net income attributable to Expedia Group, Inc. in Q2 2026: $878 million, up 166% year-over-year source
• Adjusted EBITDA in Q2 2026: $1,119 million, up 23% year-over-year source
• Diluted GAAP earnings per share in Q2 2026: $7.16, up 188% year-over-year source
• Adjusted earnings per share in Q2 2026: $5.76, up 36% year-over-year source
• Adjusted EBITDA TTM (trailing twelve months) as of June 30, 2026: $3,958 million source
• Adjusted EBITDA by segment in Q2 2026: B2C $889 million, B2B $369 million, trivago $1 million source
• Gain (loss) on minority equity investments, net for six months ended June 30, 2026: $(125) million (a gain shown as negative 125 in adjustments) source

Impact estimates