Tepid 2017 Guidance Fails to Sway Our Stance That TripAdvisor Books a Network Edge; Shares a Bargain
Due to several headwinds (surrounding mobile, cost per click, and a marketing mix shift), TripAdvisor lowered its 2017 platform revenue (50% of sales) guidance to mid-single-digit growth from low double digits. However, we view this outlook as conservative for several reasons. We agree that a spending mix shift to TV (which creates long-term value but lower near-term payback) from online stands to constrain near-term sales, but mobile trends are largely tracking our 2017 10% platform sales forec...TripAdvisor is an online travel company. The company operates a travel platform that connects the travelers with travel partners through content, price comparison tools, and online reservation and related services for destinations, accommodations, travel activities and experiences, and restaurants. The company manages its business in the following segments: Hotels, Media and Platform, which provides services such as click-based advertising on Tripadvisor-branded websites, subscription-based and display-based advertising, and other services; Experiences and Dining, which provides information and services for consumers to research and book activities, attractions, and restaurants in travel destinations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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