> ## Content Index
> Fetch the complete content index at: https://www.bullished.co/llms.txt
> Use this file to discover other available public pages before exploring further.

# Expedia Raises 2026 Revenue Outlook To $16.37 Billion-$16.43 Billion As B2B Sales Climb 23%
- URL: https://www.bullished.co/expedia-raises-2026-revenue-outlook-to-16-37-billion-16-43-billion-as-b2b-sales-climb-23-8f2a9c61/
- Published: 2026-11-04T21:07:39.000Z
- Updated: 2026-11-04T21:07:39.000Z
- Description: Third-quarter revenue grew 12% and adjusted earnings per share rose 24%, led by the partner business that serves airlines and travel agents.
- Author: Matteo Parrino
- Tags: Earnings, EXPE, Industry: Consumer Discretionary

Expedia Group, the online travel marketplace behind Expedia, Hotels.com and Vrbo, lifted its full-year 2026 outlook after [third-quarter revenue rose 12% to $4.94 billion](https://www.sec.gov/Archives/edgar/data/0001324424/000132442426000059/earningsrelease-q32026.htm?ref=bullished.co), with its business-to-business arm growing 23%. The company said it beat the high end of its own guidance.

## B2B outruns the consumer business

Gross bookings, the total value of travel booked, rose 11% to $34.0 billion. B2B revenue grew 23% and B2B bookings 19%, against 6% revenue growth and 7% bookings growth in the consumer B2C unit, according to the [earnings release](https://www.sec.gov/Archives/edgar/data/0001324424/000132442426000059/earningsrelease-q32026.htm?ref=bullished.co).

B2B supplies travel technology and inventory to airlines, travel agents, online retailers and financial institutions. The earnings presentation attributes its growth to double-digit gains across all regions and elevated marketing activity from some of its largest partners. It also says B2B's adjusted EBITDA margin was pressured by partner mix and acquisition consolidation; the segment's margin was 27.5%.

Booked room nights grew 7% to 115.7 million, while booked air tickets fell 6%.

## Earnings climb faster than sales

Diluted earnings per share rose 15% to $8.42\. Adjusted EPS rose 24% to $9.39, and adjusted EBITDA climbed 17% to $1.69 billion, with margin up 135 basis points (1.35 percentage points) to 34.2%. Operating income rose 28% to $1.33 billion.

CEO Ariane Gorin said the company "exceeded the high end of our guidance in the quarter." The presentation says adjusted EPS outpaced EBITDA growth because of share repurchases; Expedia bought back about 2 million shares for $576 million in the quarter.

Operating cash flow was negative $1.16 billion in the quarter, and free cash flow negative $1.40 billion. For the first nine months, free cash flow was positive $3.63 billion.

## The new guidance

Expedia now expects 2026 revenue of $16.37 billion to $16.43 billion, up from $16.05 billion to $16.22 billion. Gross bookings guidance moved to $131.4 billion to $131.9 billion from $129.5 billion to $130.8 billion. It also raised its expected adjusted EBITDA margin expansion to 1.8 to 2.0 percentage points from 1.5 to 1.75.

For the fourth quarter, it guides to gross bookings of $27.9 billion to $28.4 billion, revenue of $3.69 billion to $3.75 billion and adjusted EBITDA of $830 million to $880 million.

Expedia declared a $0.48 quarterly dividend, payable December 10 to holders of record on November 18, according to the [8-K](https://www.sec.gov/Archives/edgar/data/0001324424/000132442426000059/expe-20261104.htm?ref=bullished.co).

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Expedia Group, Inc. (EXPE)](https://www.sec.gov/Archives/edgar/data/0001324424/000132442426000059/expe-20261104.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit earningsrelease-q32026.htm — Expedia Group, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001324424/000132442426000059/earningsrelease-q32026.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit earningspresentation-q32.htm — Expedia Group, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001324424/000132442426000059/earningspresentation-q32.htm?ref=bullished.co) — SEC EDGAR