Business
Expedia Group Reports Fourth Quarter and Full Year 2025 Results
Exceeded fourth quarter guidance with double-digit gross bookings and revenue growth y/y Room nights up 9% y/y, driven by sustained strength internationally
About this update from Expedia Group, Inc.
[{"type":"text","content":"\nExceeded fourth quarter guidance with double-digit gross bookings and revenue growth y/y\nRoom nights up 9% y/y, driven by sustained strength internationally and in the U.S.\nExpanded Adjusted EBITDA margins y/y\n\n\n SEATTLE--(BUSINESS WIRE)--\nExpedia Group, Inc. (NASDAQ: EXPE) announced financial results today for the fourth quarter and full year ended December 31, 2025.\n\n\nKey Highlights (All comparisons year-over-year)\n\n\n\nBooked room nights grew 9% in the fourth quarter.\n\n\n\nTotal gross bookings and revenue both grew 11% in the fourth quarter and 8% for the full year, driven by strong execution and sustained market momentum.\n\n\n\nB2C and B2B gross bookings grew 5% and 24%, respectively, in the fourth quarter.\n\n\n\nLodging gross bookings grew 13% in the fourth quarter.\n\n\n\nFourth quarter GAAP net income decreased 31% while Adjusted net income grew 52%. Adjusted EBITDA increased 32% with EBITDA margin of 23.9% expanding 368 basis points in the fourth quarter.\n\n\n\nStrong cash position, ending the year with $5.7 billion of unrestricted cash and short-term investments.\n\n\n\nRepurchased approximately 9 million shares for $1.7 billion in 2025.\n\n\n\nPaid quarterly dividend of $0.40 per share on December 11, 2025. We are raising our dividend by 20% and declared a quarterly dividend of $0.48 per share on February 12, 2025.\n\n\n\n“We delivered a strong finish to a great year and expect our positive momentum to continue in 2026,” said Ariane Gorin, CEO of Expedia Group. \"Our fourth quarter results exceeded both top and bottom-line expectations, reflecting disciplined execution of our strategic priorities in a healthy demand environment with double-digit growth in bookings and revenue. We are confident in our ability to maximize the power of our brands to deliver increased value to travelers, partners and shareholders.\"\n\n\n\n\nFinancial Summary & Operating Metrics\n\n\n\n\n(In millions, except per share amounts)\n\n\n\n\n\n\n\n\nMetric\n\n\n\n\n\n\nQ4 2025\n\n\n\n\n\n\nQ4 2024\n\n\n\n\n\n\nΔ Y/Y\n\n\n\n\n\n\n2025\n\n\n\n\n\n\n2024\n\n\n\n\n\n\nΔ Y/Y\n\n\n\n\n\n\n\n\nBooked room night\n\n\n\n\n\n\n94.0\n\n\n\n\n\n\n86.4\n\n\n\n\n\n\n9%\n\n\n\n\n\n\n415.4\n\n\n\n\n\n\n383.9\n\n\n\n\n\n\n8%\n\n\n\n\n\n\n\n\nGross bookings\n\n\n\n\n\n\n$27,003\n\n\n\n\n\n\n$24,422\n\n\n\n\n\n\n11%\n\n\n\n\n\n\n$119,590\n\n\n\n\...