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TripAdvisor plummets more than 10% after earnings

TripAdvisor Inc. TRIP, +1.67% shares dropped more than 10% in late trading Monday after the online travel site announced revenue slightly below expectations in a quarterly earnings report. TripAdvisor reported third-quarter net income of $25 million, or 18 cents a share, on revenue of $439 million, up from $421 million a year ago. After adjustments for stock-based compensation and other effects, the company reported earnings of 36 cents a share. Analysts on average expected adjusted earnings of 35 cents a share on sales of $451 million, according to FactSet. While TripAdvisor did not provide revenue guidance in prepared remarks, it did not sound optimistic about an immediate rebound. "Recent partner bidding trends and our re-allocation of dollars away from online channels with short-term payback will cause click-based and transaction revenue growth to slow further in Q4," the company said. Shares fell lower than TripAdvisor's 52-week low of $35.34 at times in after-hours action following the release of the report, after the stock closed with a 1.7% gain at $39.53. TripAdvisor shares have fallen 14.6% so far this year, as the S&P 500 index SPX, +0.13% has gained 15.6%.


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