TripAdvisor shares skid on weaker-than-expected earnings
Shares of TripAdvisor Inc. skidded in Wednesday's extended session after the travel website posted quarterly results that missed Wall Street's estimates. TripAdvisor reported its second-quarter earnings fell to $34 million, or 23 cents a share, from $58 million, or 40 cents a share, a year earlier. Excluding items and charges, it would have earned 38 cents a share. Revenue fell 3% to $391 million and average monthly unique visitors totaled 350 million. Analysts surveyed by FactSet had forecast adjusted earnings of 42 cents a share on revenue of $402 million. TripAdvisor sank more than 8% after hours.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.