Tripadvisor says bookings and revenue across its segments and products are down by more than 90% in late March year-on-year.
Reporting results for the first quarter of 2020, CEO Steve Kaufer says the trend continued through April, describing the situation as the “darkest days.”
Tripadvisor reported total revenue of $278 million for Q1, a decline of 26% year-on-year, while revenue for hotels, media and platform declined by 33% to $169 million.
In a letter to shareholders, Kaufer and Teunissen say they expect Q2 to be worse than Q1 with “little to no revenue, and significantly negative EDITDA.” They expect some revenue improvement in Q3 2020.
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