Expedia Group (EXPE) reported net income of $1.03 billion in the third quarter of 2026, up 7% from $959 million in the same period of the previous year. Diluted earnings per share (EPS) were $8.42, up 15% from $7.33 in 3Q25. Revenue totaled $4.9 billion ($4,938 million), growth of 12%.
Operating income was $1.3 billion, up 28%. Gross Bookings totaled $34.0 billion, an increase of 11%, and room nights booked reached 115.7 million, up 7%. Revenue from the B2B segment, which covers partnerships with other companies, grew 23%, and revenue from B2C, which is consumer-facing, rose 6%.
Adjusted EBITDA (non-GAAP, earnings before interest, taxes, depreciation and amortization, with adjustments that the company considers non-recurring) was $1.7 billion ($1,689 million), up 17%, with a margin of 34.2%. Adjusted earnings per share were $9.39, up 24%. Free cash flow (non-GAAP) was negative $1.4 billion, compared with an outflow of $686 million a year earlier.
During the quarter, the company repurchased about 2 million shares for $576 million. The executive committee, acting on behalf of the board of directors, declared a quarterly dividend of $0.48 per share, the same amount as the previous dividend, to be paid on December 10, 2026, to shareholders of record on November 18, 2026.
Expedia raised its 2026 guidance: gross bookings of $131.4 billion to $131.9 billion (previously $129.5 billion to $130.8 billion) and revenue of $16.37 billion to $16.43 billion (previously $16.05 billion to $16.22 billion). For 4Q26, it expects revenue of $3.69 billion to $3.75 billion and adjusted EBITDA of $830 million to $880 million.
