Tags: TripAdvisor | Results | Shares | Tumble

TripAdvisor Results Fall Short; Shares Tumble

Tuesday, 04 Nov 2014 06:11 PM

Shares of TripAdvisor Inc. tumbled in extended trading Tuesday after the travel website operator posted weak quarterly results.

The company on Tuesday reported third-quarter net income of $54 million, or 37 cents per share. Earnings, adjusted for stock option expense and pretax expenses, were 48 cents per share.

The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The company posted revenue of $354 million in the period, surpassing Street forecasts. Analysts expected $347.7 million, according to Zacks.

A year ago, the Newton, Massachusetts-based company earned $56 million, or 38 cents per share, on revenue of $255 million.

Shortly after 6 p.m. in New York, TripAdvisor shares were down 11.6 percent at $75.11, after falling 1.7 percent during the regular session to end at $83.79. As of the regular-session close, TripAdvisor shares had risen 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 9 percent.

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Shares of TripAdvisor Inc. tumbled in extended trading Tuesday after the travel website operator posted quarterly results that fell short of Wall Street estimates.
TripAdvisor, Results, Shares, Tumble
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2014-11-04
Tuesday, 04 Nov 2014 06:11 PM
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