TripAdvisor: 3Q Earnings Snapshot
NEEDHAM, Mass. (AP) _ TripAdvisor Inc. (TRIP) on Wednesday reported third-quarter earnings of $69 million.
The Needham, Massachusetts-based company said it had net income of 49 cents per share. Earnings, adjusted for one-time gains and costs, were 72 cents per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The travel website operator posted revenue of $458 million in the period, which did not meet Street forecasts. Twelve analysts surveyed by Zacks expected $468.1 million.
TripAdvisor shares have risen 69 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 $58.07, a climb of 91 percent in the last 12 months.