Tripadvisor Q3 revenue misses estimates on hotels, experiences weakness
TRIP•Tripadvisor’s third-quarter revenue fell 11% to $436.4 million, below the $458.35 million analyst estimate. Adjusted net income of $43.4 million also missed estimates, and the company reported a $316.9 million net loss after a $369.5 million non-cash goodwill impairment charge.
1. Revenue and earnings
Tripadvisor reported third-quarter revenue of $436.4 million, down 11% and below the $458.35 million analyst estimate. Adjusted net income was $43.4 million, also below the $53.83 million estimate.
2. Segment performance
Experiences revenue declined 3%, while Hotels and Other revenue fell 23%. Total costs and expenses rose 81% year over year, mainly due to a $369.5 million non-cash goodwill impairment charge; the company posted a net loss of $316.9 million.
3. Outlook
Tripadvisor did not provide specific guidance for the current quarter or full year. Adjusted EBITDA was $71.1 million.
