Expedia Group, Inc. (EXPE) Income Statement
EXPE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsEXPE revenue and net income
Where EXPE's revenue goes
2025Each bar shows an amount and its share of revenue. EXPE kept 8.8% of revenue as net income.
EXPE profit margins
EXPE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.6% | +8.1% | +23.2% | +8.2% |
| Gross profit | +8.4% | +9.9% | +30.4% | +9.5% |
| Operating income | +64.0% | +25.9% | — | +18.0% |
| Net income | +4.9% | +54.3% | — | +5.4% |
| EPS (diluted) | +25.3% | +31.2% | — | +15.3% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
EXPE quarterly EPS vs estimates
Expedia beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 4, 2026 (estimate $8.09).
EXPE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.73B | $13.69B | $12.84B | $11.67B | $8.60B | $5.20B | $12.07B | $11.22B | $10.06B | $8.77B |
| Cost of revenue | $1.46B | $1.44B | $1.57B | $1.66B | $1.52B | $1.65B | $2.07B | $1.97B | $1.76B | $1.60B |
| Gross profit | $13.28B | $12.25B | $11.27B | $10.01B | $7.05B | $3.52B | $9.90B | $9.26B | $8.30B | $7.18B |
| Research & development | $1.28B | $1.31B | $1.36B | $1.18B | $1.07B | $1.01B | $1.76B | $1.62B | $1.39B | $1.24B |
| Sales, general & admin | $8.95B | $8.43B | $7.63B | $6.85B | $4.93B | $3.14B | $6.98B | $6.58B | $5.97B | $5.05B |
| Total operating expenses | $11.11B | $10.93B | $10.23B | $8.93B | $6.81B | $5.05B | $8.94B | $8.47B | $7.64B | $6.60B |
| Operating income | $2.16B | $1.32B | $1.03B | $1.08B | $186.0M | −$2.72B | $903.0M | $714.0M | $625.1M | $461.7M |
| Interest income | $255.0M | $235.0M | $189.0M | $60.0M | $9.0M | $18.0M | $59.0M | $71.0M | $34.1M | $19.7M |
| Interest expense | $299.0M | $246.0M | $245.0M | $277.0M | $351.0M | $360.0M | $173.0M | $190.0M | $181.7M | $173.1M |
| Income before taxes | $1.59B | $1.54B | $1.02B | $538.0M | −$38.0M | −$3.15B | $775.0M | $485.0M | $416.8M | $276.6M |
| Income taxes | $290.0M | $318.0M | $330.0M | $195.0M | $53.0M | −$423.0M | $203.0M | $87.0M | $45.4M | $15.3M |
| Net income | $1.29B | $1.23B | $797.0M | $352.0M | $12.0M | −$2.61B | $565.0M | $406.0M | $378.0M | $281.8M |
| EBITDA | $2.78B | $2.63B | $2.07B | $1.61B | $1.08B | −$428.0M | $1.85B | $1.63B | $1.49B | $1.24B |
| EPS (diluted) | $15.34 | $12.24 | $9.82 | $6.80 | $1.44 | −$8.78 | $6.12 | $5.81 | $4.29 | $4.50 |
| Gross margin | 90.1% | 89.5% | 87.7% | 85.8% | 82.0% | 67.7% | 82.1% | 82.5% | 82.5% | 81.8% |
| Operating margin | 14.7% | 9.6% | 8.0% | 9.3% | 2.2% | −52.3% | 7.5% | 6.4% | 6.2% | 5.3% |
| Net margin | 8.8% | 9.0% | 6.2% | 3.0% | 0.1% | −50.2% | 4.7% | 3.6% | 3.8% | 3.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.32B | $3.43B | $3.55B | $4.41B | $3.79B | $2.99B | $3.18B | $4.06B | $3.56B | $2.89B | $2.89B | $3.93B |
| Cost of revenue | $403.0M | $377.0M | $346.0M | $376.0M | $377.0M | $357.0M | $335.0M | $388.0M | $362.0M | $358.0M | $340.0M | $412.0M |
| Gross profit | $3.91B | $3.05B | $3.20B | $4.04B | $3.41B | $2.63B | $2.85B | $3.67B | $3.20B | $2.53B | $2.55B | $3.52B |
| Research & development | $325.0M | $324.0M | $322.0M | $310.0M | $325.0M | $320.0M | $322.0M | $320.0M | $331.0M | $341.0M | $357.0M | $340.0M |
| Sales, general & admin | $2.54B | $2.25B | $2.11B | $2.37B | $2.33B | $2.14B | $1.96B | $2.28B | $2.17B | $2.02B | $1.76B | $2.05B |
| Total operating expenses | $2.88B | $2.81B | $2.65B | $2.91B | $2.88B | $2.67B | $2.63B | $2.91B | $2.75B | $2.64B | $2.44B | $2.91B |
| Operating income | $1.03B | $243.0M | $548.0M | $1.13B | $531.0M | −$44.0M | $216.0M | $762.0M | $451.0M | −$110.0M | $104.0M | $607.0M |
| Interest income | $73.0M | $60.0M | $58.0M | $69.0M | $74.0M | $54.0M | $50.0M | $67.0M | $67.0M | $51.0M | $45.0M | $56.0M |
| Interest expense | $61.0M | $111.0M | $121.0M | $62.0M | $58.0M | $58.0M | $62.0M | $61.0M | $61.0M | $62.0M | $61.0M | $62.0M |
| Income before taxes | $1.26B | $25.0M | $254.0M | $1.13B | $423.0M | −$217.0M | $335.0M | $874.0M | $488.0M | −$155.0M | $171.0M | $444.0M |
| Income taxes | $383.0M | $37.0M | $42.0M | $167.0M | $101.0M | −$20.0M | $34.0M | $190.0M | $113.0M | −$19.0M | $35.0M | $139.0M |
| Net income | $878.0M | −$6.0M | $205.0M | $959.0M | $330.0M | −$200.0M | $299.0M | $684.0M | $386.0M | −$135.0M | $132.0M | $425.0M |
| EBITDA | $1.55B | $364.0M | $595.0M | $1.42B | $704.0M | $60.0M | $609.0M | $1.15B | $754.0M | $117.0M | $440.0M | $714.0M |
| EPS (diluted) | $5.01 | $1.96 | $3.78 | $7.57 | $3.59 | $0.40 | $2.39 | $6.13 | $3.51 | $0.21 | $1.72 | $5.41 |
| Gross margin | 90.7% | 89.0% | 90.2% | 91.5% | 90.0% | 88.1% | 89.5% | 90.4% | 89.8% | 87.6% | 88.2% | 89.5% |
| Operating margin | 23.9% | 7.1% | 15.4% | 25.6% | 14.0% | −1.5% | 6.8% | 18.8% | 12.7% | −3.8% | 3.6% | 15.4% |
| Net margin | 20.3% | −0.2% | 5.8% | 21.7% | 8.7% | −6.7% | 9.4% | 16.8% | 10.8% | −4.7% | 4.6% | 10.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in EXPE's financial statements (latest annual report filed February 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
EXPE financial results
In fiscal year 2025 (ended December 31, 2025), Expedia reported revenue of $14.7 billion, up 7.6% from the year before. It had net income of $1.3 billion (up 4.9%), a net profit margin of 8.8%. Diluted earnings per share came to $15.34. Over five years revenue grew at an average rate of 23.2% a year.
See the EXPE stock overview for the latest quote and news, or the EXPE chart for price history and technical indicators.
EXPE income statement FAQ
What is Expedia's annual revenue?
Expedia reported total revenue of $14.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 7.6% from $13.7 billion the previous year.
Is Expedia profitable?
Yes. Expedia reported net income of $1.3 billion in fiscal 2025, a net profit margin of 8.8%; its operating margin was 14.7%.
What is Expedia's gross margin?
Expedia's gross margin was 90.1% in fiscal 2025: for every $100 of revenue, Expedia kept $90 after the direct cost of its products and services.
How much does Expedia spend on research and development?
Expedia spent $1.3 billion on research and development in fiscal 2025, 8.7% of revenue.
How fast is Expedia growing?
Revenue grew 23.2% a year on average over the last five fiscal years, from $5.2 billion to $14.7 billion.
What are Expedia's earnings per share?
Expedia earned $15.34 per diluted share in fiscal 2025, compared with $12.24 a year earlier.
When will Expedia report its next earnings?
Expedia is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Expedia's fiscal year end?
Expedia's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 13, 2026.