TripAdvisor Stock Tumbles As Losses Accelerate Alongside Sales

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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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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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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.</p><p>“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.”</p><p>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. The GAAP net loss for the quarter increased 115% from Q1 2022 to $73M, translating to a GAAP loss per share of $0.52.</p><p>The company also noted that selling and marketing costs as a percent of revenue rose 5% year over year to 59%. Management blamed an increase in paid online traffic acquisition costs as well as a jump in marketing spend.</p><p>“The substantial majority of these costs was incurred in our Viator and Tripadvisor Core segments, in response to increased consumer travel demand and investment in the marketing of our experiences offerings within these segments,” the earnings release explained.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>TripAdvisor Stock Tumbles As Losses Accelerate Alongside Sales</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTripAdvisor Stock Tumbles As Losses Accelerate Alongside Sales\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-04 08:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3965074-tripadvisor-stock-tumbles-as-losses-accelerate-alongside-sales><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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 ...</p>\n\n<a href=\"https://seekingalpha.com/news/3965074-tripadvisor-stock-tumbles-as-losses-accelerate-alongside-sales\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TRIP":"猫途鹰"},"source_url":"https://seekingalpha.com/news/3965074-tripadvisor-stock-tumbles-as-losses-accelerate-alongside-sales","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2332909655","content_text":"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 posted $0.05 in earnings per share, one cent short of expectations. 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. The GAAP net loss for the quarter increased 115% from Q1 2022 to $73M, translating to a GAAP loss per share of $0.52.The company also noted that selling and marketing costs as a percent of revenue rose 5% year over year to 59%. Management blamed an increase in paid online traffic acquisition costs as well as a jump in marketing spend.“The substantial majority of these costs was incurred in our Viator and Tripadvisor Core segments, in response to increased consumer travel demand and investment in the marketing of our experiences offerings within these segments,” the earnings release explained.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":5,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}