TripAdvisor shares surge after Q1 report
TripAdvisor’s first-quarter profit increased 1.8% from a year earlier, as a jump in revenue from click-based and display-based advertising offset the effect of higher selling, technology and administrative costs during the company’s first full quarter as a public company.
TripAdvisor’s shares surged in after-hours trading Tuesday after the company beat earnings and revenue estimates from analysts.
Net income was $48.1 million, up from $47.3 million a year earlier. Revenue rose 23% to $183.7 million.
TripAdvisor appeared to benefit from a resurgent travel market, as sales from click-based, display-based and subscription-based sales each jumped at least 17% from a year earlier.
Founded in 2000, TripAdvisor has more than 50 million monthly unique users. The company started trading on the Nasdaq on Dec. 7. Follow Danny King on Twitter @dktravelweekly.
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