Tripadvisor announced financial results for the first quarter ended March 31, 2022.
“We are very pleased with our Q1 2022 results. After an Omicron-impacted January, our business picked up strongly in February and March, resulting in exceeding our own expectations for the quarter,” said Chief Executive Officer Steve Kaufer. “We are optimistic about the remainder of 2022 and the increasing demand for travel, and are excited to help provide great advice and guidance to our community of travelers as they venture out again into the world.”
During the first quarter of 2022, average monthly unique users on Tripadvisor-branded websites, a leading indicator of consumer travel demand, increased 27% year-over-year and was approximately 71% of the comparable period in 2019 (pre-COVID-19 timeframe), as compared to approximately 55% of the comparable period in 2019 in Q1 2021.
Q1 2022 total revenue of $262 million increased 113% year-over-year and was 70% of the comparable period in 2019, as compared to 33% of the comparable period in 2019 in Q1 2021.
In Q1 2022 revenue in the E&D segment was $92 million, reflecting year over year growth of 229%, reaching 115% of 2019 levels.
Q1 2022 consolidated net loss of $34 million improved from a net loss of $80 million in Q1 2021. Q1 2022 Adjusted EBITDA of $27 million improved from an Adjusted EBITDA loss of $26 million in Q1 2021.