TripAdvisor Stock Tumbles As Losses Accelerate Alongside Sales

Seeking Alpha2023-05-04

TripAdvisor (NASDAQ:TRIP) shares slid as much as 9% in Wednesday’s after hours trading after issuing a disappointing Q1 earnings update.For the first quarter, the Massachusetts-based travel platform ...

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h20_mako
2023-05-04
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The bottom line miss overshadowed a 41.6% rise in revenue to $371M, topping expectations by $11.32M. An adjusted EBITDA report for the quarter of $33M came up short of the $39.7M consensus as well.“We are pleased with our strong start to 2023, delivering a solid quarter across all segments,” CEO Matt Goldberg said. “Travel demand remained healthy and our teams executed well, continuing to deliver initiatives aimed at driving value for our customers and partners. We are excited about our 2023 plan to drive further engagement by leveraging our unique data, content and planning tools, capture more of the large and growing experiences opportunity, and fortify our restaurants marketplace.”CFO Mike Noonan added that the Viator segment “delivered particularly strong performance” as revenue more than doubled year over year to $115M. However, the net loss from the segment increased by 50% to $30M. 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