Categories Consumer, Earnings

TripAdvisor’s stock tanks after Q1 revenue miss

TripAdvisor Inc. (NASDAQ: TRIP) reported better-than-expected earnings for the first quarter of 2019 while revenues came in shy of forecasts, sending shares tumbling over 6% in aftermarket hours on Tuesday.

Total revenues of $376 million were down 1% on a year-over-year basis. Excluding changes in foreign currency, revenues grew approx. 2%.

On a GAAP basis, net income jumped 420% to $26 million while EPS rose 350% to $0.18. Adjusted net income grew 21% to $51 million, or $0.36 per share.

CEO Steve Kaufer said, “In Q1, we grew profit and while investing in and growing our strategically important Experiences and Restaurants businesses. This year we are focused on product improvements and supply growth to drive an even more engaged customer base and long-term revenue on our platform.”

Also see: TripAdvisor Q1 2019 Earnings Conference Call Transcript

In the Hotels, Media & Platform segment, revenue remained flat at $254 million compared with the year-ago quarter. Within this segment, revenue from TripAdvisor-branded hotels was flat at $216 million while revenue from TripAdvisor-branded display and platform increased 6% to $38 million.

Revenue in the Experiences & Dining segment grew 29% to $80 million. Other revenue decreased 33% to $42 million, mainly due to the elimination of some marginal and unprofitable revenue within some non-TripAdvisor branded offerings. This in turn reduced revenue and increased profitability.

Cash and cash equivalents and short-term marketable securities was $811 million and there was no outstanding debt as of March 31, 2019.

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

FAST Stock: Fastenal’s long-term prospects intact. Should you invest now?

Production disruption and logistics issues continue to have a crippling effect on the industrial sector but the performance of companies, in general, has been mixed so far. Fastenal Company (NASDAQ:

Netflix (NFLX) adds 8.3 million new subscribers in Q4: earnings beat estimates

Netflix, Inc. (NASDAQ: NFLX) Thursday said it added 8.3 million paid members in the December quarter. Revenues increased and matched estimates, aided by the relaxation of COVID restrictions and resumption

SCHW Stock: Upbeat stock market, rate hikes to drive growth for Charles Schwab

Investment management firm Charles Schwab Corporation (NYSE: SCHW) has stayed largely unaffected by the coronavirus crisis, rather it managed to tap into new opportunities. The company owes its impressive financial

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top