-=TripAdvisor (TRIP) reported earnings on Wed 6 Nov 19 (a/h)

TripAdvisor misses by $0.11, misses on revs, announces new partnership with Trip.com

Reports Q3 (Sep) earnings of $0.58 per share, $0.11 worse than the S&P Capital IQ Consensus of $0.69; revenues fell 6.6% year/year to $428 mln vs the $459.39 mln S&P Capital IQ Consensus.

Hotels, Media & Platform segment Adjusted EBITDA margin was 39%, a 3% increase yr/yr.

On November 1, TRIP declared a special cash dividend of $3.50 per share. Co also authorized the repurchase of an additional $100 mln in shares of common stock, which increased the amount available under its share repurchase program to $250 mln.

Trip.com Partnership: Co also announces a strategic partnership with Trip.com (TCOM), formerly known as Ctrip.com, (CTRP) that includes a joint venture, a content sharing agreement and a governance agreement.

• Under the terms of the transaction, Trip.com Group will be the majority shareholder of a new joint venture entity and will contribute cash and market expertise. TRIP will own 40% of the joint venture, and will contribute a long-term exclusive brand and content license and certain other assets of its China business.
• This partnership pairs Trip.com Group's market leadership in travel booking capabilities and China travel market expertise with TripAdvisor's brand strength, global user-generated content, and points-of-interest database, as well as destination supply.