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Trivago moves to reduce advertising spend as losses mount

Date:2018-08-01 12:29Source: ReadingNumber: Times

Trivago says it’s focusing on improved profitability and has already begun reducing advertising spend as part of its strategy going forward.

Total revenue decreased 21% to €235 million in the second quarter compared to the same period in 2017. Meanwhile, total revenue for the six months ending June 30 was down 13% to €494 million compared to the same six-month period in 2017.

The metasearch player experienced a net loss of €20.7 million for the quarter compared to the net loss of €3.4 million for the same period in 2017. For the first six months of 2018, net loss was reported at €42.5 million, compared to a net income of €4.3 million for the same period in 2017.

Qualified referrals for the quarter were down 10% to 177 million, with revenue per qualified referral down from €1.5 to €1.3.

Trivago put the losses down to the same challenges suffered in the first quarter, including the changes in strategies of its main advertisers - Expedia Group and Booking Holdings, as well as, foreign exchange rate fluctuations.

Adjusted EBITDA for the quarter represented a loss of €17.7 million compared to a positive EBITDA of €3.2 million over the same period in 2017.

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