Tripadvisor ( (TRIP) ) has released its Q3 earnings. Here is a breakdown of the information Tripadvisor presented to its investors.
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Tripadvisor, Inc. operates as a global travel platform, connecting users with travel experiences, accommodations, and dining options through its family of brands, including Brand Tripadvisor, Viator, and TheFork. The company recently released its third-quarter financial results for 2024, showcasing steady revenue figures and notable performance in some of its business segments.
In the third quarter of 2024, Tripadvisor reported a revenue of $532 million, which remained flat compared to the same period last year. The company achieved a net income of $39 million, translating to a GAAP earnings per share of $0.27. Adjusted EBITDA stood at $122 million, representing 23% of revenue. These results were driven by strategic execution across its diverse segments.
A closer look at the segments reveals mixed performance. While Brand Tripadvisor experienced a 12% decline in revenue, Viator and TheFork segments showed robust growth with 10% and 17% increases, respectively. Viator’s gross bookings value reached approximately $1.1 billion, indicating a 9% year-over-year growth, and TheFork reported a positive adjusted EBITDA of $5 million.
Despite the challenges, Tripadvisor’s financial position remains strong, with $1.1 billion in cash and cash equivalents as of September 30, 2024. This reflects a $45 million increase since the end of 2023, primarily due to positive operating cash flow.
Looking ahead, Tripadvisor’s management is focused on leveraging its segment strategies and engagement-led initiatives at Brand Tripadvisor to drive long-term growth. The company aims to capitalize on high-growth opportunities in Viator and TheFork, building a foundation for sustainable revenue and profit growth in the future.
