TripAdvisor, Inc (TRIP) has reported a 66.67 percent plunge in profit for the quarter ended Dec. 31, 2016. The company has earned $1 million, or $0.01 a share in the quarter, compared with $3 million, or $0.02 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $23 million, or $0.16 a share compared with $66 million or $0.45 a share, a year ago. Revenue during the quarter went up marginally by 2.27 percent to $316 million from $309 million in the previous year period. Gross margin for the quarter contracted 118 basis points over the previous year period to 94.94 percent. Operating margin for the quarter period stood at positive 3.16 percent as compared to a negative 8.09 percent for the previous year period.
Operating income for the quarter was $10 million, compared with an operating loss of $25 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $58 million compared with $87 million in the prior year period. At the same time, adjusted EBITDA margin contracted 980 basis points in the quarter to 18.35 percent from 28.16 percent in the last year period.
"2016 was an important transition year and one of great progress towards creating the best user experience in travel," said chief executive officer Steve Kaufer. "We rolled out hotel instant booking globally and strengthened our position in Attractions, Restaurants and Vacation Rentals. With our price comparison and booking capabilities in place, we are focused on raising consumer awareness of TripAdvisor as a great place to go to price shop and book."
Operating cash flow declines
TripAdvisor, Inc has generated cash of $321 million from operating activities during the year, down 23.21 percent or $97 million, when compared with the last year. The company has spent $163 million cash to meet investing activities during the year as against cash outgo of $58 million in the last year.
The company has spent $143 million cash to carry out financing activities during the year as against cash outgo of $189 million in the last year period.
Cash and cash equivalents stood at $612 million as on Dec. 31, 2016, down 0.33 percent or $2 million from $614 million on Dec. 31, 2015.
Working capital decreases marginally
TripAdvisor, Inc has witnessed a decline in the working capital over the last year. It stood at $527 million as at Dec. 31, 2016, down 4.70 percent or $26 million from $553 million on Dec. 31, 2015. Current ratio was at 2.25 as on Dec. 31, 2016, down from 2.77 on Dec. 31, 2015.
Debt comes down
TripAdvisor, Inc has recorded a decline in total debt over the last one year. It stood at $171 million as on Dec. 31, 2016, down 14.93 percent or $30 million from $201 million on Dec. 31, 2015. Total debt was 7.64 percent of total assets as on Dec. 31, 2016, compared with 9.45 percent on Dec. 31, 2015. Debt to equity ratio was at 0.11 as on Dec. 31, 2016, down from 0.14 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
