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NEEDHAM, MA, November 8, 2016 — TripAdvisor, Inc. (NASDAQ: TRIP) today announced financial results for the third quarter ended September 30, 2016.
“In the third quarter, content and community grew quickly off of massive bases and we continued improving our products and our platform,” said Steve Kaufer, President and Chief Executive Officer of TripAdvisor. “We are focused on building for the long-term, delivering the best end-to-end user experience in travel and creating more value for partners in our marketplace.”
Third Quarter 2016 Summary
1. Revenue was $421 million, an increase of 1% year-over-year (an increase of approximately 3% on a constant currency basis).
2. GAAP Net Income was $55 million, a decrease of 26% year-over-year, or $0.37 per diluted share.
3. Adjusted EBITDA was $114 million, a decrease of 12% year-over-year (a decrease of approximately 9% on a constant currency basis).
4. Non-GAAP net income was $78 million, or $0.53 per diluted share.
5. Average monthly unique visitors reached 390 million, up 11% year-over-year.
6. User reviews and opinions grew nearly 50% year-over-year and reached 435 million at September 30, 2016, covering approximately 1,050,000 hotels and accommodations, 830,000 vacation rentals, 4.2 million restaurants and 730,000 attractions and experiences.
Third Quarter 2016 Other Financial Highlights
1. Cash flow provided by operating activities was negative $87 million for the third quarter of 2016, a decrease of $97 million from the third quarter of 2015, driven primarily by income tax payments, vendor payments and deferred merchant payables.
2. Employees - TripAdvisor had 3,400 employees as of September 30, 2016, compared to 3,350 at June 30, 2016 and 3,000 employees at September 30, 2015.
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