TripAdvisor Falls Short on Profit Expectations Amid Travel Rebound
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By Liz Moyer
Investing.com — TripAdvisor Inc (NASDAQ:TRIP) fell short of profit expectations for the quarter but beat revenue forecasts as travel continued to rebound.
Shares of the online booking site fell 15% in after-hours trading and are down 12% this year.
It said net income in the third quarter was $25 million, or 17 cents a share. Adjusted earnings were 28 cents a share, falling short of expectations for 38 cents a share.
Revenue was $459 million, beating expectations for $443.8 million, and up 51% from last year. The company said foreign currency fluctuations hit revenue by $34 million.
TripAdvisor said its results show sustained demand for travel and dining and «another quarter of steady progress to full recovery.»