TripAdvisor (NASDAQ:TRIP) earnings for the travel review company’s third quarter of 2019 have TRIP stock falling in after-hours trading on Wednesday. That’s due to the company’s adjusted EPS of 58 cents missing Wall Street’s estimate of 69 cents. Revenue of $428 million is also well below analysts’ estimates of $458.61 million.
Here’s what else is worth talking about from the Q3 TripAdvisor earnings report.
- Adjusted per-share earnings are down 19% from 72 cents in the third quarter of 2018.
- Revenue comes in 7% lower YoY from $458 million.
- Income from operations of $68 million is a 24% drop from $89 million reported during the same time last year.
- The TripAdvisor earnings report also includes a net income of $50 million.
- That’s a 28% decrease from its net income of $69 million reported in Q3 2018.
Steve Kaufer, CEO of TripAdvisor, has this to say about the most recent earnings report.
“Q3 was more difficult than we anticipated, but we are taking action. We are driving non-auction revenue growth in our HM&P and E&D segments; we are containing costs; and we are returning more capital to shareholders. We are also excited to announce our strategic partnership with Trip.com Group.”
TripAdvisor earnings also include news about a special cash dividend. This dividend is $3.50 per share and is payable on Dec. 4, 2019. Shareholders must be on record as of Nov 20, 2019 to be eligible for the dividend.
TRIP stock was down 5.34% after the markets closed on Wednesday. The stock also closed out the day down slightly.
As of this writing, William White did not hold a position in any of the aforementioned securities.