trivago (NASDAQ: TRVG) reported Q3 revenue for the quarter came in at EUR250.3 million versus the consensus estimate of EUR253.7 million.

Financial Highlights

• Total revenue decreased to €250.3 million in the third quarter of 2019, compared to €253.7 million in the same period in 2018, representing a decline of 1% period-over-period.
• In the third quarter of 2019 Referral Revenue in Americas increased by 19% compared to the same period in 2018.
• Referral Revenue declined by 9% and 16%, respectively, in Developed Europe and the Rest of the World.
• Net income in the third quarter of 2019 was €0.3 million, compared to €10.1 million in the third quarter of 2018.
• Consolidated Return on Advertising Spend declined to 122.8% in the third quarter of 2019, compared to 135.9% in the same period in 2018.
• Consolidated Revenue per Qualified Referral improved significantly in the third quarter of 2019, reaching €1.53, up 16% compared to the same period in 2018.
• The number of Qualified Referrals decreased to 162.0 million in the third quarter of 2019, or by 14%, compared to 189.1 million in the third quarter of 2018.
• Adjusted EBITDA(1) was €10.9 million in the third quarter of 2019, compared to an Adjusted EBITDA of €26.6 million in the third quarter of 2018.
• Reflecting our performance through the third quarter of 2019, we continue to expect our Adjusted EBITDA for 2019 to be between €60 million and €80 million.

Rolf Schrömgens, CEO and Founder, said: "We are pleased that we reaccelerated growth in the Americas in the quarter, which we believe is a positive sign of the strength of our value proposition. We also saw continued progress in our alternative accommodations as a result of both better integration with our search capabilities and expansion of our offerings. We are excited about the momentum we are generating in these and other key areas, giving us reason to be optimistic for the rest of the year and beyond.”

Axel Hefer, CFO, said: “We are encouraged by our fifth consecutive quarter of profitability and our twelve-month Adjusted EBITDA is €77.9 million. This momentum has helped us establish a solid base from which to accelerate strategic investments in the business. Our investments in the Americas are already showing positive results. We remain confident in our long-term strategy and our ability to deliver value for our advertisers, accommodation providers and users.”

For earnings history and earnings-related data on trivago (TRVG) click here.