Tripadvisor Group reported results for the second quarter of 2026, with both revenue and net income down year over year.
Revenue was down 7% to $441.9 million, while net income was $22.8 million, down from $36.5 million during the same time last year.
Adjusted EBITDA was $76.4 million, down 21% year over year, and representing 17.3% of revenue. Marketing spend totaled $215.4 million, up 4% from $207.4 million in Q2 2025.
Experiences revenue was up 3% year over year to $278.6 million, but hotels and other revenue declined 21% year over year to $163.3 million.
Experiences adjusted EDITDA fell 19% to $30.8 million, while hotels and other EBITDA dropped 23% to $45.6 million.
"Our second quarter performance reflected consistent execution in an attractive experiences marketplace, even with the backdrop of a fluctuating macro environment,” said CFO Mike Noonan.
"Our confidence in the group’s operational and financial trajectory remains firm as we prioritize our experiences-led strategy. We remain intently focused on initiatives that strengthen our product, marketing and supply flywheel to drive long-term growth and margin expansion."
SEO headwinds, AI moves
Search engine optimization (SEO) headwinds at the brand Tripadvisor point of sale weighed on experiences bookings growth, executives said during Thursday's earnings call.
"We estimate the impact of the SEO pressure accounted for approximately five percentage points of growth headwind to the segment," CFO Mike Noonan said.
"This drag to growth continues to moderate as SEO becomes a smaller share of overall bookings mix."
Goldberg discussed artificial intelligence (AI) as well, with the company focusing on accelerating the experiences marketplace flywheel and native AI offerings in the planning phase and the in-destination phase.
Goldberg also pointed to Tripadvisor's partnerships with OpenAI, Perplexity, Microsoft, Amazon and Anthropic.
"Obviously, there are a few we can't talk about—we recently announced that [Viator is] the first to work with Google Gemini, and so we're partnering to integrate our experiences inventory. That's an area we're very excited about," he said.
In terms of answer engine optimization (AEO) traffic, Goldberg said Tripadvisor Group is seeing rapid growth in "really nice high-intent traffic," but it remains small.
"It's dwarfed by where search has been historically, and so these deals are contributing value; they're growing," he said.
Additionally, Goldberg commented on the company's plans to sell TheFork, its European online restaurant and management platform.
"The sale of TheFork unlocks significant value, adds flexibility for capital allocation and marks another step reshaping the company around experiences—the largest, most durable growth category in travel.”
In an investor presentation, the company said the transaction is progressing and still expects the deal to close by the end of the year. The company previously announced plans to sell the platform to American Express for $700 million in an all-cash transaction.
As of June 15, TheFork brand was considered "held for sale" and shown as discontinued, meaning it is no longer a reportable segment.
In addition to TheFork, Goldberg said the company is reviewing its portfolio and identifying areas to invest, where to pull back, and where to optimize and divest.
"Our work is intended to reshape this company to focus more directly on experiences and simplify the portfolio, because we understand that the complexity has been something that has not been rewarded. And so we're allocating our resources to enhance the value of the portfolio, regardless of where we land on the portfolio review."
This story was updated following Tripadvisor Group's Q2 2026 earnings call on Thursday.