NEEDHAM, Mass. (AP) _ TripAdvisor Inc. (TRIP) on Wednesday reported third-quarter profit of $50 million.
On a per-share basis, the Needham, Massachusetts-based company said it had profit of 36 cents. Earnings, adjusted for stock option expense and amortization costs, were 58 cents per share.
The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The travel website operator posted revenue of $428 million in the period, also falling short of Street forecasts. Eight analysts surveyed by Zacks expected $456.4 million.
TripAdvisor shares have decreased 24% since the beginning of the year, while the Standard & Poor's 500 index has climbed 23%. In the final minutes of trading on Wednesday, shares hit $40.79, a decrease of 28% in the last 12 months.