TRIP Stock Gains As CEO Expects Leisure Travel To Pick Up

TripAdvisor Inc TRIP reported a first-quarter FY21 revenue decline of 56% year-on-year to $123 million, beating the analyst consensus of $120.47 million.
Hotels, Media & Platform revenue declined 48% Y/Y to $88 million, Experiences & Dining revenue declined 66% Y/Y to $28 million, while Other revenue declined 73% Y/Y to $7 million.
Adjusted EBITDA loss was $26 million with a 21% margin, Experiences & Dining adjusted EBITDA loss was $24 million.
TRIP reported a Non-GAAP net loss was $53 million, with an adjusted EPS loss of ($0.39) missing the analyst consensus of ($0.32) loss.
TripAdvisor held $674 million in cash and equivalents and used $19 million in operating cash flow.
“Q1 demonstrated consumers want to get back out there and travel, CEO Steve Kaufer said. Traffic and revenue trends improved as vaccination rates climbed, particularly in the U.S. market, he added.
Kaufer believed that leisure travel was poised for a potential inflection later this year despite the uneven global recovery.
Price action: TRIP shares traded higher by 2.77% at $45.95 on the last check Friday.

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