TripAdvisor Stock Pops Over 11% Early Thursday
Shares of TripAdvisor (NASDAQ: TRIP), a massive travel site with over 795 million reviews and opinions on anything from accommodations to experiences, jumped as high as 11.4% Thursday morning before giving some of those gains back, after releasing mixed results for the second quarter.
One of the key metrics investors hoped to see was rebounding revenue. Unfortunately, revenue dropped 3% during the second quarter to $422 million, well short of analysts' estimates of $455.9 million. Adjusted EPS checked in at $0.45, also short of analysts' estimates of $0.51.
In addition to missing estimates, the company's results were hit or miss across the board. Consider that revenue for its hotels, media & platform segment was down 7% from the prior year, yet adjusted EBITDA for the same segment surged 27% thanks to improved efficiency in direct selling and marketing costs.
Quelle Fool.com
