EXPE
Expedia’s engine is humming
Expedia Group just dropped its first-quarter 2026 results, and the vibe is pretty simple: more people booked trips, and more of that money stuck around as profit. Booked room nights rose 6%, total gross bookings climbed 13%, and revenue increased 15%.
The real headline: profit is scaling fast
This wasn’t just a “we grew, trust us” quarter. B2B gross bookings jumped 22%, which helped drive revenue up 15%, while adjusted EBITDA vaulted 83%. Even better, GAAP net loss shrank 97%, and adjusted net income grew 361%.
That matters because travel platforms can look great on the top line and still feel like a blender full of fees. Expedia, at least this quarter, is showing that the business can convert demand into actual earnings power. That’s the kind of thing investors like to see when they’re squinting at a chart and asking, “Okay, but can this thing make money?”
Why you should care
The mix also looks healthier than just “people are traveling again.” B2B gross bookings grew 22%, outpacing the core business and suggesting Expedia’s platform engine is doing more of the heavy lifting. If that continues, the company has a shot at more durable margin expansion — not just a one-quarter victory lap.
Big picture: Expedia isn’t just getting more travelers through the door. It’s making more money off each wave, and that’s the part Wall Street tends to reward.