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TripAdvisor (TRIP) Q2 Loss Wider Than Expected, Revenues Top
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TripAdvisor Inc. (TRIP - Free Report) reported adjusted second-quarter 2020 loss of 76 cents per share, wider than the Zacks Consensus Estimate of a loss of 71 cents. Earnings of 45 cents per share were reported in the year-ago quarter.
Revenues for the second quarter were $59 million, surpassing the Zacks Consensus Estimate by 21.8%. However, the top line was down 86% year over year.
In April, May, and June, monthly unique users on Tripadvisor sites were approximately 33%, 45%, and 60%, respectively.
Revenue Segments
Starting first-quarter 2019, TripAdvisor revised the reporting structure into three segments: Hotels, Media & Platform, Experiences & Dining, and Other.
Revenues of $38 million (accounting for 64% of total revenues) from the Hotels, Media & Platform segment were down 85% from the year-ago quarter.
Revenues of $14 million from the Experiences & Dining segment, which accounted for 24% of total revenues, were also down 89% year over year.
The Other segment contributed the remaining 12% to total revenues. This segment includes revenues from rentals, SmarterTravel, Flights/Cruise and TripAdvisor China. Revenues from this segment were $7 million, down 84% from the year-ago quarter.
TripAdvisor, Inc. Price, Consensus and EPS Surprise
TripAdvisor’s adjusted operating expenses of $148 million were down 50.5% from $299 million a year ago. Operating loss was $164 million for the second quarter versus operating profit of 66 million in the year-ago period.
On a GAAP basis, the company recorded net loss of $153 million or loss of $1.14 per share versus net income of $34 million or earnings of 24 cents in the prior-year quarter.
Balance Sheet & Cash Flow
TripAdvisor exited the quarter with cash, cash equivalents and short-term investments of roughly $698 million, down from $798 million recorded in the first quarter.
Accounts receivables were $74 million, down from $159 million in the first quarter.
As of Jun 30, 2020, the company had a long-term debt of $700 million.
Cash flow from operations was ($78) million versus ($70) million in the first quarter. Capex was $15 million, down from $20 million in the first quarter. Free cash flow was ($93) million versus ($90) million in the first quarter.
The long-term earnings growth rate for Benefitfocus, Cogent and Synaptics is currently pegged at 30%, 10.6%, and 10%, respectively.
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TripAdvisor (TRIP) Q2 Loss Wider Than Expected, Revenues Top
TripAdvisor Inc. (TRIP - Free Report) reported adjusted second-quarter 2020 loss of 76 cents per share, wider than the Zacks Consensus Estimate of a loss of 71 cents. Earnings of 45 cents per share were reported in the year-ago quarter.
Revenues for the second quarter were $59 million, surpassing the Zacks Consensus Estimate by 21.8%. However, the top line was down 86% year over year.
In April, May, and June, monthly unique users on Tripadvisor sites were approximately 33%, 45%, and 60%, respectively.
Revenue Segments
Starting first-quarter 2019, TripAdvisor revised the reporting structure into three segments: Hotels, Media & Platform, Experiences & Dining, and Other.
Revenues of $38 million (accounting for 64% of total revenues) from the Hotels, Media & Platform segment were down 85% from the year-ago quarter.
Revenues of $14 million from the Experiences & Dining segment, which accounted for 24% of total revenues, were also down 89% year over year.
The Other segment contributed the remaining 12% to total revenues. This segment includes revenues from rentals, SmarterTravel, Flights/Cruise and TripAdvisor China. Revenues from this segment were $7 million, down 84% from the year-ago quarter.
TripAdvisor, Inc. Price, Consensus and EPS Surprise
TripAdvisor, Inc. price-consensus-eps-surprise-chart | TripAdvisor, Inc. Quote
Operating Results
TripAdvisor’s adjusted operating expenses of $148 million were down 50.5% from $299 million a year ago. Operating loss was $164 million for the second quarter versus operating profit of 66 million in the year-ago period.
On a GAAP basis, the company recorded net loss of $153 million or loss of $1.14 per share versus net income of $34 million or earnings of 24 cents in the prior-year quarter.
Balance Sheet & Cash Flow
TripAdvisor exited the quarter with cash, cash equivalents and short-term investments of roughly $698 million, down from $798 million recorded in the first quarter.
Accounts receivables were $74 million, down from $159 million in the first quarter.
As of Jun 30, 2020, the company had a long-term debt of $700 million.
Cash flow from operations was ($78) million versus ($70) million in the first quarter. Capex was $15 million, down from $20 million in the first quarter. Free cash flow was ($93) million versus ($90) million in the first quarter.
Zacks Rank & Stocks to Consider
Currently, TripAdvisor has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Benefitfocus , Cogent Communications Holdings (CCOI - Free Report) and Synaptics (SYNA - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term earnings growth rate for Benefitfocus, Cogent and Synaptics is currently pegged at 30%, 10.6%, and 10%, respectively.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
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