A variation of the phrase " you would ", used in response to an individual's action that one would presume that individual would typically do anyway.
However, "as expected" is significantly less annoying than " you would " which makes you want to punch whoever said it in the face.
Laura: " On the drive home, Shan and Marcus were totally
holding each others' peens for support in a totally
no homo way "
Allen: " As Expected."