Expedia posted Q2 2025 gross bookings of $30.4 billion (+5%), revenue of $3.79 billion (+6%), and adjusted EBITDA of $910 million (+16%). Room nights rose 7% to 105 million, with Asia posting nearly 20% growth, its strongest region. B2C growth was modest, with bookings up 1% as Hotels.com and Vrbo declined while Brand Expedia rose 13%. B2B remained the key driver, with bookings up 17% to $8.84 billion and revenue up 15% to $1.21 billion, marking the 16th consecutive quarter of double-digit gains. Advertising revenue climbed 22% to $280 million. AI adoption across teams has cut development cycles by over 20%.