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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