TripAdvisor (TRIP) expects Q2 to be “materially worse than” Q1 – Idaho Reporter

NASDAQ

TripAdvisor (TRIP) expects Q2 to be “materially worse than” Q1

Tripadvisor, Inc. (NASDAQ:TRIP) reported today that they have enough cash ($693 million of cash and cash equivalents) to weather the crisis even though this is $105M decrease compared to the cash and cash equivalents balance at March 31.

In a SEC filing TRIP furthermore explained that in April and May monthly unique users were approximately 33% and 45% of last year’s comparable period. May monthly unique users increased approximately 38% versus April. Knowing that 463 million (according to Tripadvisor internal log files) potential travelers visit Tripadvisor each month this means that the number of monthly unique visitors in May decreased by approx. 250,000,000 compared to same month in 2019.

The Company currently estimates that “its Adjusted EBITDA loss for Q2 2020 will be approximately $85 million” and it also “continues to expect year-over-year revenue performance for the quarter ended June 30, 2020 will be materially worse than such performance for the quarter ended March 31, 2020″

Tripadvisor Inc Common Stock (NASDAQ: TRIP) lost almost $30 from its 52-week high of $47.64 and will open on Monday at $18.70.

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