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TripAdvisor (TRIP) Tops Q2 EPS by 4c

August 5, 2021 4:38 PM EDT

TripAdvisor (NASDAQ: TRIP) reported Q2 EPS of ($0.07), $0.04 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $235 million versus the consensus estimate of $188.57 million.

We saw meaningful sequential improvement in Q2, as revenue increased 91% compared to Q1 2021 driven by continued U.S. strength and Europe, which improved materially later in the quarter”, said Chief Executive Officer Steve Kaufer. “We believe increased vaccination rates and reopenings across the globe are both undeniably positive steps towards travel’s eventual full recovery and we are pleased with our business’s demonstrated resilience. Further, the Tripadvisor growth story extends well beyond the recovery, and we are making progress building the future of travel. Specifically, we fully rolled out our new subscription service, Tripadvisor Plus, in our first market. This is an example of our commitment to leveraging our platform’s unique strengths to deepen consumer engagement on our platform and drive value for partners. We believe executing our strategy will lay the foundation for sustained, profitable growth in the years to come.”

Chief Financial Officer Ernst Teunissen added, “The broadening recovery, along with strong execution by our team, drove improved financial performance in the quarter that was better than our internal expectations. Revenue as a percentage of Q2 2019 levels improved, our net loss narrowed, and adjusted EBITDA returned to positive. Our results are a testament to our ongoing cost discipline as we navigate what remains an uneven landscape both in terms of geography and business line. That said, we are very encouraged with Q2 improvement and believe that the travel recovery is on an overall positive trajectory.”

For earnings history and earnings-related data on TripAdvisor (TRIP) click here.



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