Tripadvisor beats expectations on profit and revenue on travel demand

By Liz Moyer

Investing.com -- Travel booking site Tripadvisor Inc (NASDAQ:TRIP) reported better than expected profit and revenue as travel continued to rebound.

Shares of Tripadvisor rose 6.6% in after-hours trading and are up 39.8% this year.

Tripadvisor reported revenue of $354 million and adjusted profit per share of 16 cents in the fourth quarter, beating expectations for revenue of $344M and per-share adjusted profit of 4 cents. Fourth quarter revenue rose 47% from the prior year.

For 2022, revenue of $1.49 billion and adjusted profit per share of 75 cents beat expectations for revenue of $1.48B and per-share adjusted profit of 60 cents.

“We are pleased with our fourth quarter, which exceeded our expectations and brought to close a strong fiscal 2022 across each of our segments,” said CEO Matt Goldberg. “Our results reflect a combination of continued strength in the travel industry, the value our portfolio provides to travelers and partners, and the focus of our teams. As we enter 2023, we will continue to leverage these strengths while identifying new opportunities to reinforce and accelerate our performance and drive sustainable profitable growth.”

The company said its outlook for 2023 assumes no change in the macro environment, "which remains uncertain, yet also assumes resilient travel demand."

Tripadvisor said for the full year it expects consolidated Ebitda margin to remain flat year over year, and that assumes flat year-over-year margins in its Tripadvisor Core business. It also said it expects full-year consolidated revenue growth "that reflects the diverse growth profiles across our portfolio, and is consistent with broader travel growth trends."