Following Q4 and fiscal 2021 results, shares of TripAdvisor Inc. (TRIP) sank further deep after hours on Wednesday. The company disclosed its 2021 financial results on Wednesday, February 16, 2022, after the market closed.
It seems that investors were already gloomy before the earnings release as the stock remained in the red during regular trading. The TRIP stock lost 2.79% during the regular session at its closing price of $29.23 with 3.92 shares exchanging. Following the news, the stock plunged further down to $27.14 in the after-hours. Hence, TRIP lost a further 7.15% of its value in the after-hours on Wednesday.
The online travel company, TripAdvisor Inc. was founded in 2000. Currently, the company has a market capitalization of $4.16 billion with 125.38 million shares outstanding.
TRIP’s 2021 Financial Results
In Q4 2021, the company had revenue of $241 million with an increase of 108% YOY. The full-year revenue grew by 49% YOY to $902 million.
Moreover, the consolidated net loss was $29 million in Q4 and $148 million in fiscal 2021. Thus, the respective non-GAAP net loss per diluted share was $0.01 and $0.30 in Q4 and fiscal 2021.
Furthermore, TRIP had an adjusted EBITDA of $29 million and $100 million in Q4 and full-year 2021, respectively.
The company ended the period with cash and cash equivalents of $723 million on December 31, 2021.
Additionally, the company will be hosting a conference call for discussing the 2021 results on February 17, 2022, at 8:30 a.m. EST.
Partnership with KAYAK
On February 03, the company announced Cruise Critic’s partnership with KAYAK. Cruise Critic, a subsidiary of TRIP, is an online cruise guide with over 650,000 cruise reviews and the world’s largest online cruise community. KAYAK is a leading travel search engine in the world.
Thus, U.S.-based travelers in search of a cruise on KAYAK will now have access to Cruise Critic’s extensive cruise itineraries and reviews network.
This partnership provides a win-win situation for both the involved parties. It will boost traffic for the Cruise Critic site while scaling KAYAK’s cruise business.
TRIP’s Historic Internet Milestone
On February 01, the company announced achieving a major historic internet milestone of 1 Billion reviews and opinions.
Conclusion
With the recovery of the travel industry due to increased Covid-19 vaccinations, investors expected the company to post much better earnings. But the company disappointed the investors as it missed the revenue estimates. As a result, the stock took a harsh hit in the after-hours on Wednesday.
