Tripadvisor Stock Earnings Reports

Tripadvisor reported Q1 2026 results with consolidated revenue of $382M (down 4%) and adjusted EBITDA of $22M (6% margin), slightly ahead of expectations despite macro disruptions beginning in late February (Middle East conflict plus destination-specific disruptions in Mexico and Hawaii). The company reaffirmed its strategic pivot: prioritizing Experiences as the core growth engine (largest opportunity in travel), embedding AI across product and operations, and simplifying the legacy Hotels & Other business for profitability. Experiences showed strong momentum in January–February (bookings and GBV acceleration, Viator +20% in early months) but slowed in March due to cancellations and softened demand; overall Experiences GBV grew 13% for the quarter. The Fork (restaurant business) grew revenue 23% (11% constant currency) with improved EBITDA margins; Hotels & Other declined 20% but remains profitable and is being right-sized. Cost reductions are underway (total fixed costs down ~14%, personnel down 18% YoY) and Q1 operating cash flow was strong ($118M) with $1.1B cash on hand at quarter end; convertible notes were repaid April 1, leaving excess cash (ex-deferred merchant payables) of roughly $369M. Outlook: Q2 revenue expected down mid-single digits as bookings and GBV normalize through the quarter; Experiences bookings guided +5–8% (revenue +2–5%), Fork revenue +10–13%, Hotels & Other down ~21–24%. Management expects recovery and reacceleration in H2 and indicates that, after accounting for near-term macro impacts, full-year consolidated revenue growth and adjusted EBITDA margin would be roughly flat versus prior guide. The company continues to explore strategic options for The Fork and is engaging with major AI platforms to monetize its large, structured travel data asset.