TripAdvisor: 2Q Earnings Snapshot
NEEDHAM, Mass. (AP) _ TripAdvisor Inc. (TRIP) on Wednesday reported second-quarter profit of $32 million.
The Needham, Massachusetts-based company said it had profit of 23 cents per share. Earnings, adjusted for one-time gains and costs, were 41 cents per share.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The travel website operator posted revenue of $433 million in the period, falling short of Street forecasts. Thirteen analysts surveyed by Zacks expected $436.1 million.
TripAdvisor shares have risen 67 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 5 percent. In the final minutes of trading on Wednesday, shares hit $57.65, a rise of 54 percent in the last 12 months.