TripAdvisor, the world’s largest traveling site, released its Q3 earnings report for the fiscal year 2021 on Monday after the market closed.
- Revenue: $303 million
- EPS: $0.01
Key Highlights
- Monthly unique users – During the third quarter of 2021, average monthly unique users on Tripadvisor-branded websites increased to approximately 76% of 2019’s comparable period, in comparison to approximately 70% and 55% of 2019’s comparable periods during the second and first quarters of 2021, respectively.
- Q3 2021 total revenue of $303 million increased 101% year-over-year and was approximately 71% of the comparable period in 2019 (pre-COVID-19 timeframe), which showed improvement versus Q2 2021.
- Total operating expenses were $287 million, up 46% year-over-year, increasing in all categories.
- As of September 30, 2021, the Company had $682 million of cash and cash equivalents, an increase of $264 million from December 31, 2020.
Analysts Expectations
EPS: $0.12
Revenue: $306.9 million
CEOs Statement
“We are pleased to see a continued pick-up in consumer travel demand as borders open and vaccinations are more widely administered,” said Chief Executive Officer Steve Kaufer. “We are seeing this benefit in our results—revenue increased to $303 million, reflecting sequential growth of 29% and year over year growth of 101%, with strong performance from all segments. In addition to macro tailwinds, we believe that our customer experience, expansive reach, product offerings, and position in the market will drive sustained growth and strong customer loyalty. We are very excited about the progress we are making in our key initiatives with a focus on the long-term, even as we remain cautiously optimistic about near-term travel trends.”
Earnings History
Q2 2021 total revenue of the traveling site was $235 million, it increased 298% year-over-year and was approximately 56% of the comparable period in 2019 (pre-COVID-19 timeframe), which showed better performance versus Q1 2021. It reported a diluted EPS of $-0.29. The firm’s total operating expenses were $270 million, up 21% year-over-year. Q2 2021 consolidated net loss of the firm was $40 million, it was less than the net loss in Q1 2021 and Q2 2020,
Company Profile
Tripadvisor is the world’s largest travel guidance site, it helps hundreds of millions of people each month and become better travelers, from planning to booking to taking a trip. Travelers across the globe use the Tripadvisor site and app to discover where to stay, what to do, and where to eat based on guidance from those who have been there before. With quite 934 million reviews and opinions of nearly 8 million businesses, travelers address Tripadvisor to seek out deals on accommodations, book experiences, reserve tables at delicious restaurants, and discover great places nearby. As a travel guide company available in 43 markets and 22 languages, Tripadvisor makes planning easy regardless of the trip type.
