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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
TripAdvisor
TripAdvisor (TRIP) investor relations material
TripAdvisor Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 continuing-operations revenue was $436.4M, down 11% YoY; Adjusted EBITDA was $71.1M, or 16.3% of revenue.
A $369.5M non-cash goodwill impairment drove a $316.9M continuing-operations net loss.
Strategy prioritizes Experiences growth and Viator investment while simplifying Hotels & Other and pursuing sustainable growth.
TheFork sale to American Express closed Nov. 1, generating ~$685M in net proceeds.
Financial highlights
Q3 revenue was $436.4M versus $490.8M; Adjusted EBITDA was $71.1M versus $107.8M.
Q3 operating cash flow was $(122.0)M and free cash flow was $(131.2)M, versus $32.9M and $19.0M a year earlier.
Nine-month revenue was $1,204.1M, down 9% YoY; continuing-operations net loss was $324.7M.
Outlook and guidance
Q4 revenue is expected to decline sequentially by the low teens; Experiences declines may be modestly faster, with H&O flat versus Q3.
Q4 Experiences bookings are expected roughly flat YoY and segment Adjusted EBITDA near break-even; group margin is expected to decline to the low-to-mid single digits.
Restructuring is expected to generate $40M in annualized group savings, with $15M–$20M of costs primarily in Q4 2026.
2027 planning prioritizes durable Experiences growth and a leaner H&O footprint; specific guidance was not yet set.
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Latest events from TripAdvisor
- Q2 2026 revenue fell 7% as Experiences grew, Hotels declined, and TheFork sale to close by year-end.TRIP
Q2 2026 - Q1 revenue fell 4% as Experiences grew, Hotels and Other declined, and macro risks persisted.TRIPQ1 2026
- Marketplace and experiences growth drove record 2025 revenue, offsetting legacy declines.TRIPQ4 2025
- Q3 2025 revenue rose 4% to $553M, led by experiences growth and major cost-saving actions.TRIPQ3 2025
- Q2 revenue up 7% to $529M, with Viator and TheFork driving growth; full-year outlook reaffirmed.TRIPQ2 2025
- Viator and TheFork growth offset Brand Tripadvisor declines as Q2 revenue and profits hold steady.TRIPQ2 2024
- Q3 revenue flat at $532M; Viator and TheFork grew, all segments profitable, IRS audit settled.TRIPQ3 2024
- Q1 2025 revenue and EBITDA exceeded expectations, with strong Viator and TheFork growth.TRIPQ1 2025
- 2024 results beat expectations; 2025 targets 5–7% revenue growth and margin expansion.TRIPQ4 2024
Next TripAdvisor earnings date
Q4 202611 Feb, 2027
TripAdvisor
Next TripAdvisor earnings date
Q4 202611 Feb, 2027
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Frequently asked questions
Advice for Trips
TripAdvisor, founded in 2000, operates as a travel platform helping users plan and book their trips. It features a vast collection of user-generated content, including reviews and opinions about various travel-related aspects like hotels, restaurants, attractions, and other travel experiences. Additionally, TripAdvisor offers comparison tools for hotel and flight prices, enabling travelers to find cost-effective options. The platform also facilitates direct booking for hotels, vacation rentals, and experiences. TripAdvisor is headquartered in Needham, Massachusetts, and its shares are listed on the Nasdaq.
Founding, Acquisition, and Spin-off
TripAdvisor was founded in February 2000. TripAdvisor quickly grew, providing extensive reviews and advice on hotels, restaurants, and attractions worldwide. In 2004, it was acquired by IAC and later became part of Expedia. Following a successful period under Expedia, TripAdvisor was spun off as an independent company in 2011. Since then, it has expanded its services, including direct booking capabilities and the introduction of various travel-related features.
User-Generated Content
TripAdvisor's website is most known for its extensive collection of user-generated content. This content primarily comprises millions of reviews and opinions from travelers worldwide, covering hotels, restaurants, attractions, and other travel experiences. These reviews often include detailed descriptions, personal experiences, ratings, and photographs, providing valuable insights for other travelers. Users can sort and filter this content based on various criteria, such as date, rating, and type of traveler, to find the information most relevant to what they’re looking for.
Other Services
Beyond user-generated content, TripAdvisor provides several other services. It offers a price comparison tool that helps users find competitive rates for hotels and flights, integrating price data from various sources. The platform also facilitates direct bookings for hotels, (directly competing with companies such as Booking), vacation rentals, and unique travel experiences such as tours and activities.