TripAdvisor Posts Strong Q1 Results, Buys Restaurant Booking Platform

TripAdvisor, Inc. announced it’s first quarter earnings this afternoon.

Points from the press release include:

• Total revenue of $281 million, up 32% quarter-over-quarter and up 22% year-over-year.
• Net income of $68 million, or $0.47 per diluted share, up 240% quarter-over-quarter and up 10% year-over-year.
• Non-GAAP net income of $80 million, or $0.54 per diluted share, up 167% quarter-over-quarter and up 10% year-over-year.
• Adjusted EBITDA of $122 million, or 43% of revenue, up 135% quarter-over-quarter and up 12% year-over-year.
• Adjusted EBITDA of $122 million, or 43% of revenue, up 135% quarter-over-quarter and up 12% year-over-year.
• Free cash flow of $89 million, or 32% of revenue, up 62% quarter-over-quarter and up 154% year-over-year.
• TripAdvisor enters the international restaurant reservation space by entering into exclusivity to acquire La Fourchette.

“2014 is off to a great start as we reinforce our leadership position in travel, making the TripAdvisor experience even better for users and partners alike,” said Steve Kaufer, President and CEO of TripAdvisor.

“We eclipsed 150 million traveler reviews and opinions on more than four million businesses around the globe and it’s our valuable content that helps users choose their accommodations, pick where to eat, and decide what to do while they are on a trip. With more than a quarter of a billion monthly visitors on our site each month and record user engagement on mobile, we are focused on reducing friction and delighting users throughout all phases of travel planning and trip-taking.”