Investing
Tripadvisor Stock Falls on Q3 Loss and CEO, CFO Exits
Tripadvisor stock fell 17.6% on November 5, 2026 after a $316.9 million Q3 net loss, an 11% revenue drop and news that its CEO and CFO will leave.
Tripadvisor stock (NASDAQ: TRIP) fell 17.6% in trading on November 5, 2026, after the company reported third-quarter results and said its CEO and CFO will both leave in the coming months. The quarter ended with a net loss of $316.9 million, compared with a $48.5 million profit a year earlier.
What Tripadvisor reported
| Metric | This period | A year earlier | Change |
|---|---|---|---|
| Revenue | $436.4M | $490.8M | -11% |
| Hotels and Other revenue | $151.6M | $196.5M | -23% |
| Adjusted EBITDA | $71.1M | $107.8M | -34% |
| Non-GAAP diluted EPS | $0.37 | $0.58 | -36% |
| Free cash flow | -$131.2M | $19.0M | n.m. |
Adjusted EBITDA is profit before interest, taxes, depreciation and certain one-off items. Non-GAAP EPS is profit per share excluding items such as write-downs, and free cash flow is operating cash minus capital spending.
Most of the loss came from a $369.5 million non-cash goodwill impairment in Hotels and Other. Goodwill is the premium paid for past acquisitions, and writing it down means those businesses are now valued lower. The company tied it to reduced profit forecasts as changes in the search landscape keep cutting traffic.
The Experiences segment, which includes Viator, fared better: revenue fell 3% while bookings rose about 2% to 6.8 million. On November 4 the company began a restructuring that cuts roles in Hotels and Other, targeting about $40 million in yearly savings at a cost of $15 million to $20 million, mostly in the fourth quarter.
Why the stock fell 17.6%
The drop was about four and a half times the size of a typical day's swing for the stock. The write-down itself uses no cash, but the reason behind it, lower expected profits in the hotels business as search traffic shrinks, points to a longer-running problem. On top of that, both the chief executive and the chief financial officer are set to depart in the coming months, during the company's shift toward Experiences.
What to watch next
-
Who replaces the departing CEO and CFO, and when.
-
Use of the roughly $741.0 million from TheFork sale, with management prioritising cuts to $814.4 million of long-term debt.
-
Media and advertising revenue, down 23% to $27.7 million, as a gauge of traffic trends.
FAQ
How much cash does Tripadvisor have?
It held $706.8 million at September 30, 2026, down $271.2 million from the end of 2025, mainly because it repaid its 2026 Senior Notes for $345.4 million. That figure excludes the proceeds from TheFork sale received in November.
How is Tripadvisor's Viator business doing?
Gross bookings value, the total value of bookings before cancellations, was roughly flat at about $1.3 billion. The Experiences segment's adjusted EBITDA margin fell to 13.4% of revenue from 17.8% a year earlier.
Sources
This article is for information only and is not investment advice.