tripadvisor inc (TRIP) Key Developments
TripAdvisor Inc. Provides Earnings Guidance for the Year 2015
Jul 23 15
TripAdvisor Inc. provided earnings guidance for the year 2015. For the year 2015, the company expects GAAP effective tax rate for the full year to be in line with projected 2015 GAAP tax rate of 27% to 28%. The company expects 2015 capital expenditures to be roughly 5% of revenue. The company expects 2015 total revenue growth to be in the low to mid-20s and EBITDA growth in the low to mid-single digits. The guidance reflects recent business trends and foreign exchange rates as of now and does not assume future positive or negative FX movement. As such, future changes in FX and their related effects on users and partners could positively or negatively impact outlook.
TripAdvisor Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Jul 23 15
TripAdvisor Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue of $405 million against $323 million a year ago. Operating income was $79 million against $100 million a year ago. Income before income taxes was $82 million against $98 million a year ago. Net income was $58 million or $0.40 per diluted share against $68 million or $0.47 per diluted share a year ago. Net cash provided by operating activities was $200 million against $158 million a year ago. Capital expenditures, including internal-use software and website development were $23 million against $22 million a year ago. Total Adjusted EBITDA was $123 million against $129 million a year ago. Non-GAAP net income was $79 million or $0.54 per diluted share against $81 million or $0.55 per diluted share a year ago.
For the six months, the company reported revenue of $768 million against $604 million a year ago. Operating income was $169 million against $196 million a year ago. Income before income taxes was $168 million against $192 million a year ago. Net income was $121 million or $0.83 per diluted share against $136 million or $0.93 per diluted share a year ago. Net cash provided by operating activities was $299 million against $267 million a year ago. Capital expenditures, including internal-use software and website development were $54 million against $42 million a year ago. Total Adjusted EBITDA was $249 million against $251 million a year ago. Non-GAAP net income was $159 million or $1.08 per diluted share against $161 million or $1.10 per diluted share a year ago.
TripAdvisor Inc. Opens New Global Headquarters in Needham, Massachusetts
Jul 21 15
TripAdvisor Inc. announced the official opening of its new global headquarters in Needham, Mass. The new 282,000 square-foot facility is incorporating LEED best practices, and features a travel theme. It also provides a wide range of employee-friendly amenities, such as a fitness center, a game room and lounge, and lunch served daily.
TripAdvisor Wins Italian Court Ruling over Fake Reviews
Jul 14 15
An Italian court has cancelled fines against TripAdvisor for allegedly failing to stop false reviews from being published on its website. TripAdvisor was fined last year EUR 500,000 ($550,000) by Italian authorities for apparently failing to stop false reviews from being published on its site. The company appealed the fine, which was imposed by Italy's competition watchdog. TripAdvisor said that the decision confirmed what the company always knew - that TripAdvisor is a hugely valuable and reliable resource, that there is no misleading message regarding the source of TripAdvisor's reviews, and the processes TripAdvisor uses to maintain the integrity of our content are extremely effective.
TripAdvisor, Inc. Announces New $1 Billion Five Year Credit Facility
Jun 30 15
TripAdvisor Inc. announced that it has entered into a new $1 billion five-year credit facility, replacing its existing $600 million credit facility. Under a new credit agreement, among other things, the company has access to a $1 billion unsecured revolving credit facility, an interest rate on borrowings and commitment fees based on the company's and its subsidiaries' consolidated leverage ratio and uncommitted incremental revolving loan and term loan facilities, subject to compliance with leverage covenants and other conditions. The $1 billion credit facility will be used for general corporate purposes. Thirteen financial institutions participated in the credit facility. In connection with the company's entrance into the new credit agreement, the company repaid in full and terminated its existing credit agreement.