Trivago (NASDAQ:TRVG) earnings for the travel company’s first quarter of 2020 have TRVG stock falling after-hours Monday. That comes after reporting revenue of 139.8 million euros. This misses Wall Street’s revenue estimate of 148.21 million euros for the quarter.
The following is a collection of highlights from the most recent Trivago earnings report.
- Revenue for the quarter comes in 33.1% lower than the 208.96 million euros reported during the same time last year.
- Operating loss is sitting at -215.52 million euros, which is a major drop compared to operating income of 13.37 million euros in the first quarter of 2019.
- The Trivago earnings report also has it bringing in a net loss of -214.27 million euros.
- That’s a massive decline from the company’s net income of 7.83 million euros reported in the same period of the year prior.
Trivago includes this statement concerning its Q1 earnings in a presentation for investors.
“As a result of the expected prolonged deterioration of our business due to the COVID-19 outbreak, we recorded an impairment charge of €207.6 million to reflect the economic and financial impact on our business.”
Trivago doesn’t discuss an outlook in its current earnings report. That makes sense with the novel coronavirus causing problems for the economy. Many other companies have been withholding guidance during the pandemic.
TRVG stock was down 3% after markets closed on Monday but were up 14.5% at the end of normal trading hours.
As of this writing, William White did not hold a position in any of the aforementioned securities.