TRIP FY 2014 Earnings Report — Tripadvisor, Inc. Revenue & Financial Results | Market Cap Arena

Tripadvisor, Inc.TRIP

FY 2014 Earnings

Reported February 17, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$1.2B	—	$945M	—	31.9%
Op. Income	$340M	—	$295M	—	15.4%
Gross Margin	96.8%	—	98.1%	—	-1.3pp
Net Margin	18.1%	—	21.7%	—	-3.6pp
EPS (Diluted)	$1.55	—	$1.41	—	9.9%
Free Cash Flow	$306M	—	$294M	—	4.1%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$40M
GROSS PROFIT	$1.2B
R&D Expenses	$171M
Selling & Marketing	$502M
General & Administrative	$299M
SG&A Expenses	$801M
Other Expenses	-$18M
Operating Expenses	$866M
Cost & Expenses	$906M
OPERATING INCOME	$340M
Interest Income	$1M
Interest Expense	$9M
Other Income/Expenses	-$18M
INCOME BEFORE TAX	$322M
Income Tax Expense	$96M
Net Income from Continuing Ops	$226M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$226M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$226M
D&A	$65M
EBIT	$331M
EBITDA	$396M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$40M
GROSS PROFIT	$1.2B
R&D Expenses	$171M
Selling & Marketing	$502M
General & Administrative	$299M
SG&A Expenses	$801M
Other Expenses	-$18M
Operating Expenses	$866M
Cost & Expenses	$906M
OPERATING INCOME	$340M
Interest Income	$1M
Interest Expense	$9M
Other Income/Expenses	-$18M
INCOME BEFORE TAX	$322M
Income Tax Expense	$96M
Net Income from Continuing Ops	$226M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$226M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$226M
D&A	$65M
EBIT	$331M
EBITDA	$396M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$226M
Depreciation & Amortization	$65M
Stock-Based Compensation	$63M
Deferred Income Tax	-$17M
Other Non-Cash Items	-$2M
Change in Working Capital	$52M
OPERATING CASH FLOW	$387M
Capital Expenditure	-$81M
Acquisitions (Net)	-$331M
Purchases of Investments	-$251M
Sales/Maturities of Investments	$429M
Other Investing Activities	$179M
NET CASH FROM INVESTING	-$234M
Net Debt Issuance	-$30M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$14M
NET CASH FROM FINANCING	-$41M
FREE CASH FLOW	$306M
Net Change in Cash	$104M

Balance Sheet

Item	Amount
Cash & Equivalents	$455M
Short-Term Investments	$108M
Net Receivables	$151M
Inventory	$0
Other Current Assets	$33M
TOTAL CURRENT ASSETS	$747M
PP&E (Net)	$195M
Goodwill	$734M
Intangible Assets	$214M
Long-Term Investments	$31M
Tax Assets	$39M
Other Non-Current Assets	-$1M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$2.0B
Account Payables	$19M
Short-Term Debt	$78M
Deferred Revenue	$57M
Other Current Liabilities	$186M
TOTAL CURRENT LIABILITIES	$381M
Long-Term Debt	$260M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$39M
Other Non-Current Liabilities	$87M
TOTAL NON-CURRENT LIABILITIES	$453M
TOTAL LIABILITIES	$834M
Common Stock	$0
Additional Paid-In Capital	$673M
Retained Earnings	$628M
Treasury Stock	-$145M
Accum. Other Comp. Income	-$31M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$2.0B
Total Debt	$338M
Net Debt	-$117M