Tripadvisor revenue leaps 25pc despite intensifying competition
The figures
Tripadvisor was slated for growth, and still managed to beat expectations with its revenue leaping 25 per cent to $405m, against $323m for the same period last year.
Earnings per share came in at $0.40, against $0.47 last year.
Why it's interesting
The company’s sales have been growing over the last few quarters, and these latest figures are no exception. As several recent acquisitions under its travel product portfolio are likely to improve the company’s efficiency, profits are likely to rise.
What they said
Steve Kaufer, president and chief executive, said:
Our long-term business prospects grew stronger in the second quarter. We grew content by 50% reaching more than a quarter-of-a-billion reviews and opinions; we grew community by more than 30% to 375 million monthly unique users, we further deepened our relationships with large hotel partners to power direct bookings, and we extended our global reach in our newer attractions and restaurants businesses.
In short
Tripadvisor has seen strong growth, not just this quarter but over the year, and has managed to keep intensifying competition from places such as Google and Priceline from weighing down on its results.