Trivago's second-quarter results revealed some of the progress that the company has made over the past few months. Revenue was still down 5%, to 223.4 million euros, but that decline was a whole lot less extreme than the 20% plunge that the online travel company suffered in the first quarter.

A closer look at Trivago's metrics show just how far the online travel company has come. Referral revenue in the Americas was down just 3% from year-ago levels, and developed Europe referral revenue actually rose slightly over the same period. The rest-of-world segment did lag behind once again with a 17% drop year over year, but improvement in Trivago's two biggest geographical regions was a huge part of its turnaround strategy.

Related: Trivago is trying to make peace with its largest advertisers