Tripadvisor Inc. (NASDAQ:TRIP) shares declined 18% after the online travel platform reported third-quarter earnings and revenue below analysts’ expectations and announced planned departures of its chief executive officer and chief financial officer.
The company reported adjusted earnings of $0.37 per share, compared with the analyst consensus of $0.45. Revenue decreased 11% year over year to $436.4 million, below expectations of $453.23 million.
Tripadvisor also recorded a net loss of $316.9 million, primarily reflecting a non-cash goodwill impairment charge of $369.5 million.
The financial results were accompanied by leadership changes, with Chief Executive Officer Matt Goldberg scheduled to leave in February 2027 and Chief Financial Officer Michael Noonan departing at the end of 2026.
Tripadvisor generated third-quarter revenue of $436.4 million, representing an 11% decrease compared with the corresponding period last year.
The result was approximately $16.8 million below the analyst consensus estimate of $453.23 million.
Adjusted earnings per share reached $0.37, compared with expectations of $0.45.
The company reported lower revenue across both its Experiences and Hotels and Other segments, with the larger percentage decline occurring in the Hotels and Other business.
Adjusted EBITDA from continuing operations also decreased compared with the previous year.
Tripadvisor reported a third-quarter net loss of $316.9 million, equivalent to $2.70 per diluted share.
The loss was primarily attributable to a non-cash goodwill impairment charge of $369.5 million.
Goodwill impairment charges reflect reductions in the accounting value of goodwill recorded on a company’s balance sheet.
Because the charge was non-cash, it did not represent an equivalent cash expenditure during the quarter.
The impairment was a principal factor in the difference between Tripadvisor’s reported net loss and its positive adjusted earnings per share.
The company did not provide additional details about the impairment assessment in the supplied announcement.
Tripadvisor announced that Chief Executive Officer Matt Goldberg will leave the company on February 16, 2027.
The departure follows an agreement between Goldberg and the company’s Board of Directors.
The announcement did not identify a successor or provide details about the process for appointing a new chief executive.
Goldberg’s planned departure is part of a broader leadership transition that also includes the resignation of the company’s chief financial officer.
Chief Financial Officer Michael Noonan will resign from Tripadvisor on December 31, 2026, to pursue another professional opportunity.
Kristen Dalton, currently Tripadvisor’s Chief Strategy and Operations Officer, will assume the role of interim CFO beginning January 1, 2027.
The appointment will provide interim financial leadership following Noonan’s departure.
Tripadvisor did not announce a permanent replacement for the CFO position.
Jeremy Philips, Chairman of Tripadvisor’s Board of Directors, acknowledged the contributions of the departing executives.
“On behalf of the Board, I want to thank Matt and Mike for their leadership,” Philips said. “We are grateful for their past contributions, as well as their support over the coming months.”
Tripadvisor’s Experiences segment reported revenue of $284.8 million during the third quarter, a decrease of 3% from the previous year.
Adjusted EBITDA for the segment totaled $38.2 million, representing a margin of 13.4%.
Despite the revenue decline, Experiences bookings increased approximately 2% year over year to 6.8 million.
Gross bookings value remained broadly unchanged at approximately $1.3 billion.
The figures indicate that the number of bookings increased while the total value of those bookings remained relatively stable.
The Experiences segment accounted for the majority of Tripadvisor’s consolidated quarterly revenue.
Tripadvisor’s Hotels and Other segment generated revenue of $151.6 million, representing a 23% decline from the corresponding period last year.
Adjusted EBITDA for the segment totaled $32.9 million, equivalent to a margin of 21.7%.
Within the segment, Hotels revenue decreased 23% to $109.7 million.
Media and advertising revenue also declined 23%, reaching $27.7 million.
The declines across these revenue categories contributed to the overall reduction in consolidated revenue.
Although Hotels and Other generated a higher adjusted EBITDA margin than Experiences, its revenue decreased at a faster rate during the quarter.
Tripadvisor reported total adjusted EBITDA from continuing operations of $71.1 million, down 34% from $107.8 million in the third quarter of the previous year.
The adjusted EBITDA margin was 16.3% of revenue.
The decrease reflected lower adjusted operating profitability across the company’s continuing operations.
Experiences contributed $38.2 million in adjusted EBITDA, while Hotels and Other generated $32.9 million.
The combined segment figures accounted for the company’s reported adjusted EBITDA from continuing operations.
Tripadvisor reported cash and cash equivalents of $706.8 million as of September 30, 2026.
The balance provides a measure of the company’s available cash resources at the end of the reporting period.
The announcement did not include additional information about quarterly operating cash flow, debt balances or capital expenditure.
The company also did not provide updated financial guidance in the information supplied.
Tripadvisor’s third-quarter results showed an 11% decline in revenue to $436.4 million and adjusted earnings of $0.37 per share, both below analysts’ expectations.
The company recorded a net loss of $316.9 million, primarily because of a $369.5 million non-cash goodwill impairment charge.
Experiences revenue declined 3%, although bookings increased approximately 2%, while Hotels and Other revenue fell 23%.
Adjusted EBITDA from continuing operations decreased 34% to $71.1 million.
The results coincided with the announced departures of CEO Matt Goldberg and CFO Michael Noonan, with Kristen Dalton scheduled to become interim CFO in January 2027.
Investors will continue to monitor segment revenue trends, adjusted profitability and the company’s leadership transition.
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