Tripadvisor Inc.
TRIP,
shares dived 17% to $19.74 in after-hours trading Monday after the company posted profit below analysts’ expectations for the latest quarter.
The online travel company posted net income of $25 million, or 17 cents a share, for the third quarter ended Sept. 30, compared to $1 million, or 1 cent a share, a year earlier. Adjusted earnings were 28 cents a share, below analysts’ estimates of 39 cents.
Revenue rose to $459 million from $303 million. Analysts polled by FactSet expected $444.3 million. The company said foreign currency fluctuations negatively impacted revenue by $34 million in the quarter.
“Our results reflect a sustained demand for travel and dining, and another quarter of steady progress to full recovery,” Tripadvisor said in a letter to shareholders.
Write to Denny Jacob at [email protected]
