Google Search Claims Another Victim: Tripadvisor Lowers Outlook [Yahoo! Finance]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: Yahoo! Finance
Tripadvisor pointed to Google's free, organic search results as the culprit. Last week, Trivago said Google's changes to paid advertising formats were hitting its financial results too. Commenting on diminished travel demand in April and into May, Tripadvisor Chief Financial Officer Michael Noonan said Wednesday during the company's first-quarter earnings call : “We also witnessed a wide-reaching update to the (Google) travel SERP (Search Engine Results Page) that extended for a more prolonged period of time than typical updates that we have seen in the past.” Officials said the changes to search engine results pages on Google, which has roughly a 90% grip on search according to various accounts, began late last year and continued into the first quarter. Given these pressures from Google, for the second quarter, Noonan stated: Consolidated revenue for the whole company is expected to be flat or to increase “slightly” compared to the prior year period, and adjusted EBITDA marg
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