TripAdvisor reports second quarter 2016 financial results
Revenue was $391 million, a decrease of 3% year-over-year. GAAP Net Income for the second quarter of 2016 was $34 million, a decrease of 41% year-over-year.
NEEDHAM, MA, August 3, 2016 — TripAdvisor, Inc. (NASDAQ: TRIP) today announced financial results for the second quarter ended June 30, 2016.
* Revenue was $391 million, a decrease of 3% year-over-year.
* Adjusted EBITDA was $95 million, a decrease of 23% year-over year.
* Cash flow from operations was $237 million, an increase of 19%.
* Average monthly unique visitors reached 350 million.
* User reviews and opinions reached 385 million at June 30, 2016, covering 1,035,000 hotels and accommodations, 815,000 vacation rentals, 4.1 million restaurants and 690,000 attractions and experiences.
* Global launch of instant booking was completed, enabling users around the world to seamlessly book more than 500,000 hotels on TripAdvisor sites.
“We took important steps along our key initiatives during the second quarter,” said Steve Kaufer, President and Chief Executive Officer of TripAdvisor. “Hotel instant booking is now live to users around the globe. We also continued to build a more end-to-end travel experience through our attractions, restaurants and vacation rental businesses as we grew bookable supply and improved our consumer offering on all devices, especially on mobile. We continue to play the long game as we navigate our business to deliver the best user experience in travel.”
Second Quarter 2016 Financial Summary
*GAAP Net Income for the second quarter of 2016 was $34 million, or $0.23 per diluted share.
*Non-GAAP net income for the second quarter of 2016 was $56 million, or $0.38 per diluted share.
*Free Cash flow for the second quarter of 2016 was $218 million, an increase of $41 million year-over-year.