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Tripadvisor's annual revenue drops 3% in 2019

02/13/2020| 1:36:02 PM| ChinaTravelNews 中文

As Google continues to siphon off high-quality traffic, Tripadvisor's hotel auction revenue declined by double digits year-over-year in Q3 and Q4.

Tripadvisor announced financial results for the fourth quarter and full year ended December 31, 2019.

As Google continues to siphon off high-quality traffic, Tripadvisor's hotel auction revenue declined by double digits year-over-year in Q3 and Q4.

* Q4 Revenue was $335 million, down by 3%. Full-year Revenue was $1.560 billion, down by 3%. 

* Q4 GAAP Net Income grew 114% to $15 million and full-year GAAP Net Income grew 12% to $126 million.

* Q4 Adjusted EBITDA was $92 million, a 6% increase year-over-year.

* Full-year Total Adjusted EBITDA was $438 million, a 4% 2 increase year-over-year.

Chief Executive Officer Steve Kaufer said: 

“We grew revenue outside our hotel auction; we have adjusted our cost structure to preserve strong profitability; and we returned more capital to shareholders. We repositioned our flagship Tripadvisor brand, and we reorganized internally to align with customer-focused initiatives to deepen customer engagement on our platform, which we believe will lead to increased monetization over time.”

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TAGS: Tripadvisor | financial statements
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