Tripadvisor Sees Dip in Revenue, Net Income in Q2

Tripadvisor Group reported Q2 revenue down 7% to $441.9M, net income of $22.8M vs $36.5M last year. Adjusted EBITDA was $76.4M, down 21% YoY. Experiences revenue up 3% to $278.6M, but hotels and other revenue declined 21%. SEO headwinds estimated to impact experiences growth by ~5 percentage points. Company is focusing on experiences-led strategy and selling TheFork to American Express for $700M, expected to close by year-end.