Why TripAdvisor Stock Fell 12% This Week
TripAdvisor (NASDAQ: TRIP) shareholders lost ground to the market this week. The travel-platform giant reported lackluster sales for the fiscal third quarter, while projecting a soft finish to the year. TripAdvisor also announced the retirement of its CEO, which adds uncertainty to its outlook.
Sales doubled to $303 million in Q3, which was just below Wall Street expectations. TripAdvisor saw a solid rebound in travel demand trends, but traffic on its network remains significantly below 2019 levels. Monthly user traffic, a key growth metric, sat at 76%, compared to two years ago.
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Source Fool.com
