By skyforbes | Metric | Q3 2025 | Q3 2024 | Δ Y/Y |
|---|---|---|---|
| Booked room nights | 108.2 | 97.4 | 11% |
| Gross bookings | $30,727 | $27,498 | 12% |
| Revenue | $4,412 | $4,060 | 9% |
| Operating income | $1,036 | $762 | 36% |
| Net income attributable to Expedia Group | $959 | $684 | 40% |
| Diluted earnings per share | $7.33 | $5.04 | 45% |
| Adjusted EBITDA* | $1,449 | $1,250 | 16% |
| Adjusted EBIT* | $1,134 | $892 | 27% |
| Adjusted net income* | $962 | $809 | 19% |
| Adjusted EPS* | $7.57 | $6.13 | 23% |
| Net cash provided by operating activities | $(497) | $(1,493) | (67%) |
| Free cash flow* | $(686) | $(1,687) | (59%) |
(In millions except per share amounts)
Third Quarter Highlights (All comparisons year-over-year)
• Booked room nights grew 11%, driven by the fastest U.S. growth in three years and continued international strength.
• Total gross bookings grew 12%, driven by a 26% increase in B2B; B2C gross bookings grew 7%.
• Lodging gross bookings grew 13%; hotel bookings increased 15%, driven by B2B and Expedia.
• Revenue grew 9%, driven by B2B, which grew 18%.
• Third quarter GAAP net income increased 40% while Adjusted net income grew 19%. Adjusted EBITDA increased
16% with 208 basis points of margin expansion, and Adjusted EBIT grew 27% with 373 basis points of margin expansion.
• Diluted GAAP EPS increased 45% while Adjusted EPS grew 23%.
• Repurchased approximately 2.3 million shares for $451 million in the third quarter and 7.9 million shares for $1.4 billion for the nine months of 2025.
• Paid quarterly dividend of $0.40 per share on September 18, 2025 and declared quarterly dividend of $0.40 per share on November 6, 2025.
Earnings report: https://s202.q4cdn.com/757635260/files/doc_financials/2025/q3/Earnings-Release-Q3-2025_FINAL.pdf