EXPE · 10-Q · 2026Q3 · Full report
Revenue Performance and Mix
Expedia Group, Inc. · 2026-11-05 · Importance 55 · Surprise 40 · No source text
Revenue increased 12% to $4.938 billion in the third quarter of 2026 and 13% to $12.679 billion in the first nine months, driven by lodging growth in B2B and B2C. B2C revenue was $3.065 billion for the quarter and $7.860 billion year to date, while B2B revenue was $1.708 billion and $4.384 billion, respectively. Lodging revenue grew 11% in the quarter and 12% year to date, to $3.991 billion and $10.030 billion, respectively; growth reflected more hotel room nights stayed and higher stayed ADRs. Air revenue declined 7% in both periods, while EG Advertising increased 7% and 11%, and trivago Advertising increased 20% and 36%, respectively.
Key facts
- Expedia Group revenue increased 12% and 13% for the three and nine months ended September 30, 2026, respectively, compared with the same periods in 2025, driven by lodging growth in B2B and B2C. source
- Lodging revenue increased 11% and 12% for the three and nine months ended September 30, 2026, respectively, primarily due to more hotel room nights stayed and higher ADRs stayed. source
- Expedia Group’s gross bookings increased 11% and 12% for the three and nine months ended September 30, 2026, respectively, compared with the same periods in 2025. source
- Lodging accounted for 81% of Expedia Group’s worldwide revenue in Q3 2026. source
- Advertising and media accounted for 8% of Expedia Group’s worldwide revenue in Q3 2026. source
- Expedia Group reduced its economics in some geographies based on local market conditions as it expanded its global hotel offering, as part of initiatives intended to drive faster room-night growth. source
- All other revenue, including insurance, car, cruise and activities, increased 28% and 23% for the three and nine months ended September 30, 2026, respectively, primarily due to higher insurance and activities revenue. source
- Expedia Group ADRs booked increased 2% in Q3 2026, increased 1% in 2025 and decreased 1% in 2024. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +30.2% | Expedia Group revenue increased 12% and 13% for the three and nine months ended September 30, 2026, respectively, compared with the same… |
| revenue | positive | realized | +10.7% | Expedia Group revenue increased 12% and 13% for the three and nine months ended September 30, 2026, respectively, compared with the same… |
| revenue | positive | realized | +7.8% | Lodging revenue increased 11% and 12% for the three and nine months ended September 30, 2026, respectively, primarily due to more hotel… |
| revenue | positive | realized | — | Lodging revenue increased 11% and 12% for the three and nine months ended September 30, 2026, respectively, primarily due to more hotel… |