TripAdvisor Inc
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −1.54%.
Did TRIP Beat Earnings? Q4 2025 Results
TripAdvisor closed out fiscal 2025 on a disappointing note, posting Q4 earnings per share of just $0.04 against a consensus estimate of $0.13, a miss of nearly 70% that snapped a six-quarter streak of beating EPS expectations and rattled investors already watching an activist battle unfold. Revenue of $411.00 million came in essentially flat year-over-year and slightly below the $412.66 million consensus, as strength in the company's Experiences segment, where bookings surged 18% to 5.0 million, was overwhelmed by a 15% decline in Hotels and Other revenue and $33.00 million in pre-tax restructuring charges tied to a November 2025 operating model realignment. Those charges drove a GAAP net loss of $38.00 million compared to net income of $2.00 million a year ago. Looking ahead, management expects at least $85.00 million in annualized gross cost savings, with the majority realized in 2026, while it simultaneously explores strategic alternatives for restaurant platform TheFork and works to counter AI-driven pressure on its legacy hotel metasearch business.
- Experiences segment revenue grew 10% YoY in Q4, driven by 18% growth in experience bookings
- Gross bookings value for Experiences reached approximately $980 million in Q4, up 16% YoY
- TheFork revenue grew 18% YoY (9% constant currency) with bookings growing approximately 9%
- Hotels and Other segment revenue declined 15% due to ongoing legacy headwinds
- Marketing costs increased 15% YoY in Q4, reaching 42.5% of revenue
- Personnel costs decreased 8% YoY in Q4 due to restructuring and efficiency measures
“We are pleased with our 2025 financial performance, achieving record revenue of $1.9 billion, driven by our marketplace businesses, in particular Experiences, which contributed nearly 50% of Group revenue and 30% of Group profit.”
TripAdvisor CEO, on the earnings call
Forward Guidance & Outlook
Management expects marketplace businesses to deliver healthy growth and higher profitability in 2026. Investment priorities in experiences are expected to deliver increasing impact to the Group financial profile and long-term growth trajectory. The company expects at least $85 million in annualized gross cost savings from its restructuring, with the majority realized in 2026 and full realization by 2027. The company plans to use $345 million of existing cash to repay 2026 Senior Notes due April 1, 2026. Additional pre-tax restructuring costs of approximately $4 million are expected primarily in Q1 2026. The company is exploring strategic alternatives for TheFork. Starting in 2026, vacation rentals, flights, and rental car categories will no longer be offered on the platform.
TRIP YoY Financials
TRIP Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.