TripAdvisor reported revenue of $436 million, down 11%, as Matt Goldberg remains CEO through mid-February, Mike Noonan departs at year-end, and Kristen Dalton becomes interim CFO on January 1st, 2027.
TRIP · TripAdvisor, Inc.
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Tripadvisor, Inc. completed the $700 million all-cash sale of TheFork to American Express Travel Related Services Company, Inc. on November 1, 2026, receiving estimated net cash consideration of 737.0 million.
Tripadvisor completed the sale of TheFork on November 1, 2026, receiving approximately $741.0 million in net cash consideration, and recorded a $369.5 million non-cash goodwill impairment in Hotels and Other.
Tripadvisor announced Matt Goldberg will depart as President and CEO effective February 16, 2027; Michael Noonan will resign as CFO effective December 31, 2026, and Kristen Dalton will become interim CFO on January 1, 2027.
Tripadvisor reported third-quarter revenue of $436.4 million, down 11% year-over-year, and a $316.9 million net loss driven by a $369.5 million non-cash goodwill impairment. It completed the TheFork sale to American Express for approximately $741.0 million net cash consideration.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q3 FY26 earnings call · Nov 5, 2026TL;DR. The TheFork sale added approximately $741.0 million of proceeds for debt reduction, while restructuring should generate approximately $40 million of annualized savings and Experiences bookings grew approximately 2%. However, third-quarter revenue fell 11%, Hotels and Other weakened sharply, a $369.5 million goodwill impairment was recorded, fourth-quarter revenue is expected to decline sequentially by the low teens, and operating cash flow was negative $122 million versus positive $32.9 million in the prior-year quarter.
- + The TheFork sale generated approximately $741.0 million in net cash consideration, with proceeds prioritized for long-term debt reduction.
- + The restructuring is expected to deliver approximately $40 million of annualized gross savings while shifting resources toward Experiences.
- + Experience bookings increased approximately 2% year over year in the third quarter.
- + B2B2C and third-party points of sale remain strong, with mid-teens B2B2C growth and sequential acceleration in third-party bookings.
- + AI integrations and discovery are showing stronger conversion and booking values, with AI traffic converting above the site average.
- + Experiences has scaled to nearly $5 billion in gross booking value and now contributes the majority of group revenue.
- − Third-quarter revenue declined 11% to $436.4 million, while adjusted EBITDA was $71.1 million, or 16.3% of revenue.
- − Hotels and Other revenue fell 23% to $152 million, while segment adjusted EBITDA margin fell approximately 650 basis points to 22%.
- − Experiences bookings grew only 2%, TripAdvisor-platform bookings declined in the low teens, and SEO created an approximate 3% bookings headwind.
- − Tripadvisor recorded a $369.5 million Hotels and Other goodwill impairment amid declining performance and reduced forecasted profitability.
- − Management expects fourth-quarter group revenue to decline sequentially by the low teens amid continued experiences weakness.
- − Third-quarter operating cash flow was negative $122 million, versus positive $32.9 million in the prior-year quarter.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Mentioned in fund letters
Equibles Rating
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Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA | $71.1M | FY2026 Q3 | -34.0% |
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| Experience bookings | 6.5M | Q2 2026 | — |
| Free cash flow from continuing operations non-GAAP | $129.8M | Q2 2026 | — |
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| Gross bookings value | 1.4B | Q2 2026 | — |
| Non-GAAP Diluted Net Income (Loss) per Share non-GAAP | $0.35 | Q2 2026 | — |
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| Non-GAAP Net Income (Loss) from continuing operations non-GAAP | $41M | Q2 2026 | — |
| Total Adjusted EBITDA non-GAAP | $45.6M | Three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Travel Services — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
TRIP
this stock
TripAdvisor, Inc.
|
$853.06M | -50.3% | +5.1% | — | 31.4% |
|
BKNG
Booking Holdings Inc.
|
$118.68B | — | +13.4% | 17.3 | 2.3% |
|
ABNB
Airbnb, Inc.
|
$111.46B | +37.6% | +10.3% | 34.8 | 2.2% |
|
RCL
Royal Caribbean Cruises Ltd
|
$86.47B | +15.9% | +3.3% | 19.1 | 4.3% |
|
VIK
Viking Holdings Ltd
|
$40.14B | +25.9% | — | — | 2.2% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 5, 2026
- This year
- 23
Tripadvisor completed the sale of TheFork on November 1, 2026, receiving approximately $741.0 million in net cash consideration, and recorded a $369.5 million non-cash goodwill impairment in Hotels and Other.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| TRIP | +3.4% | -22.3% | -27.9% | -21.5% | -50.3% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +0.8% | -21.2% | -28.4% | -21.3% | -60.9% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.