Tripadvisor shares fell 18% after missing third-quarter earnings targets and announcing leadership departures. The company reported adjusted earnings per share of $0.37, below the consensus estimate of $0.45. Revenue declined 11% year over year to $436.4 million, short of analyst expectations of $453.23 million.
A net loss of $316.9 million, or $2.70 per diluted share, was driven by a non-cash goodwill impairment charge of $369.5 million.
CEO Matt Goldberg will depart February 16, 2027. CFO Michael Noonan will resign December 31, 2026. Kristen Dalton, the company's chief strategy and operations officer, will serve as interim CFO starting January 1, 2027.
The Experiences segment generated $284.8 million in revenue, down 3% year over year. Hotels and other segment revenue fell 23% to $151.6 million. Total adjusted EBITDA from continuing operations declined 34% to $71.1 million, or 16.3% of revenue, compared to $107.8 million a year earlier.
Tripadvisor held $706.8 million in cash and cash equivalents as of September 30, 2026.
Investors in TRIP should monitor the company's search for a permanent CEO and any strategic announcements ahead of Goldberg's February 2027 departure.