Covid-19: Tripadvisor withdraws 2020 financial outlook

tripadvisor
Tripadvisor announced that it is wihdrawing its 2020 outlook provided in Shareholder letter earlier.

NEEDHAM, Mass., March 18, 2020,/PRNewswire/ — Tripadvisor, Inc. (NASDAQ: TRIP) announced today that it is withdrawing its 2020 outlook provided in its Shareholder Letter on February 12, 2020.

Steve Kaufer, President and CEO of Tripadvisor, Inc says.,” We provided our full-year 2020 outlook based on information available at that time. At that time, we observed a limited impact on our business from the COVID-19 outbreak. It grew rapidly and as a result in March, performance substantially worsened.

The travel industry has recovered from similar past disruptions

Mr. Kaufer continued, “While the COVID-19 outbreak’s full impacts are still to be determined, the travel industry has recovered from past disruptions. At Tripadvisor, we have successfully navigated these disruptions, and we will continue to operate prudently through this challenging period. We are confident that travel will rebound. We are closely monitoring this developing situation, and will continue to actively support Tripadvisor, Inc.’s consumers, partners, and employees worldwide.”

Forward-looking statements

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Such statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties and factors that are beyond our control. Some of the risks and uncertainties that may cause our actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include that the coronavirus outbreak has resulted in a significant decline in our travel demand and increase in customer cancellations, that declines or disruptions in the economy in general and travel industry.

Forward-looking statements are not guarantees of future performance.

In particular, it could adversely affect our businesses and financial performance, and those more fully described in Part I. Item 1A. “Risk Factors” of our Annual Report on Form 10-K. Moreover, we operate in a rapidly changing environment.

New risk factors emerge from time to time and management can’t predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

We caution you that, while forward-looking statements reflect our good faith beliefs when we make them, they are not guarantees of future performance and are impacted by actual events when they occur after we make such statements. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events or otherwise.

About Tripadvisor

Tripadvisor, the world’s largest travel platform, helps 463 million travelers each month* make every trip their best trip. Travelers across the globe use the Tripadvisor site and mobile app. Tripadvisor users browse 859 million reviews and opinions of 8.6 million accommodations, restaurants, experiences, airlines, and cruises.

Travelers turn to Tripadvisor to compare low prices on hotels, flights, and cruises. They can book popular tours and attractions, even reserve tables at great restaurants. Tripadvisor, the ultimate travel companion, is available in 49 markets and 28 languages.

The subsidiaries and affiliates of Tripadvisor, Inc. (NASDAQ: TRIP), own and operate a portfolio of travel media brands and businesses. Below is a list of various websites and mobile apps operated by Tripadvisor.

airfarewatchdog.com
bokun.io
bookingbuddy.com
cruisecritic.com
familyvacationcritic.com
flipkey.com
thefork.com (including lafourchette.com, eltenedor.com, restorando.com, and bookatable.co.uk)
holidaylettings.co.uk
holidaywatchdog.com
housetrip.com
jetsetter.com
niumba.com
onetime.com
oyster.com
seatguru.com
singleplatform.com
smartertravel.com
vacationhomerentals.com
viator.com

*   Source: Jumpshot for Tripadvisor Sites, worldwide, November 2019

** Source: Tripadvisor internal log files, average monthly unique visitors, Q3 2019

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SOURCE Tripadvisor

Dan Winther