Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Operating Segment Information

The following tables present our segment information for the three months ended March 31, 2025 and 2024. As a significant portion of our property and equipment is not allocated to our operating segments and depreciation is not included in our segment measure, we do not report the assets by segment as it would not be meaningful. We do not regularly provide such information to our chief operating decision makers.


	Three months ended March 31, 2025
	B2C		B2B		trivago		Corporate & Eliminations		Total
	(In millions)
Third-party revenue	$	1,956	$	947	$	85	$	—	$	2,988
Intersegment revenue	—		—		46		(46)		—
Revenue	$	1,956	$	947	$	131	$	(46)	$	2,988
Less: (1)
Cost of revenue	312		38		4
Selling and marketing - direct	1,115		577		111		(46)
Other segment items (2)	312		116		21		132
Adjusted EBITDA	$	217	$	216	$	(5)	$	(132)	$	296
Depreciation	(135)		(44)		(1)		(28)		(208)
Amortization of intangible assets	—		—		—		(11)		(11)


Stock-based compensation	—		—		—		(98)		(98)

Restructuring and related reorganization charges	—		—		—		(26)		(26)
Realized (gain) loss on revenue hedges	(15)		(8)		—		—		(23)
Operating income (loss)	$	67	$	164	$	(6)	$	(295)	(70)
Other expense, net									(147)
Loss before income taxes									(217)
Provision for income taxes									20
Net loss									(197)
Net (income) loss attributable to non-controlling interests									(3)
Net loss attributable to Expedia Group, Inc.									$	(200)


	Three months ended March 31, 2024
	B2C		B2B		trivago		Corporate & Eliminations		Total
	(In millions)
Third-party revenue	$	1,986	$	833	$	70	$	—	$	2,889
Intersegment revenue	—		—		40		(40)		—
Revenue	$	1,986	$	833	$	110	$	(40)	$	2,889
Less: (1)
Cost of revenue	312		39		4
Selling and marketing - direct	1,096		501		93		(40)
Other segment items (2)	363		121		22		123
Adjusted EBITDA	$	215	$	172	$	(9)	$	(123)	$	255
Depreciation	(133)		(34)		(1)		(27)		(195)
Amortization of intangible assets	—		—		—		(15)		(15)


Stock-based compensation	—		—		—		(104)		(104)
Legal reserves, occupancy tax and other	—		—		—		(20)		(20)
Restructuring and related reorganization charges	—		—		—		(48)		(48)
Realized (gain) loss on revenue hedges	13		4		—		—		17
Operating income (loss)	$	95	$	142	$	(10)	$	(337)	(110)
Other expense, net									(45)
Loss before income taxes									(155)
Provision for income taxes									19
Net loss									(136)
Net loss attributable to non-controlling interests									1
Net loss attributable to Expedia Group, Inc.									$	(135)

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(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODMs, exclusive of stock-based compensation. Intersegment expenses are included within the amounts shown.

(2) Other segment items for each reportable segment primarily includes selling and marketing - indirect, technology and content and general and administrative expenses as well as the realized foreign currency gains or losses related to the forward contracts hedging a component of our net merchant lodging revenue for our B2C and B2B segments.

Schedule of Revenue by Services

The following table presents revenue by business model and service type:


	Three months ended March 31,
	2025		2024
	(in millions)
Business Model:
Merchant	$	2,046	$	1,964
Agency	652		678
Advertising, media and other	290		247
Total revenue	$	2,988	$	2,889
Service Type:
Lodging	$	2,289	$	2,228
Air	107		115
Advertising and media - EG(1)	174		145
Advertising and media - trivago	85		70
Other(2)	333		331
Total revenue	$	2,988	$	2,889

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(1)Includes Expedia Group (“EG”) Media Solutions, which is responsible for generating advertising revenue on our global online travel brands.

(2)Other includes revenue from insurance, car rental, activities and cruise revenue, among other revenue streams, none of which are individually material.