[ad_1]
© Reuters
By Liz Moyer
Investing.com – travel booking site Tripadvisor Inc (NASDAQ:) Travel reported better-than-expected profit and revenue as it continued to grow again.
TripAdvisor shares rose 6.6% in after-hours trading and are up 39.8% this year.
In the fourth quarter, TripAdvisor had revenue of $354 million and adjusted earnings of 16 cents, compared to revenue of $344 million and adjusted earnings of 4 cents per share. Fourth-quarter revenue was up 47 percent from last year.
For 2022, revenue of $1.49 billion and adjusted earnings of 75 cents a share are expected to be $1.48B and adjusted earnings of 60 cents per share.
“We are pleased with our fourth quarter, which exceeded our expectations and closed 2022 on a strong budget in each of our segments,” said CEO Matt Goldberg. “Our results reflect the 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 strengthen and accelerate our performance and drive continued profitable growth.
The company He said the outlook for 2023 was unchanged in the macro environment, “which is uncertain, but also takes strong travel demand.”
Tripadvisor said it expects full-year 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”.
[ad_2]
Source link
