TripAdvisor delivers better-than-projected third-quarter profit
Investing.com -- Shares in TripAdvisor (NASDAQ:TRIP) rose sharply in premarket U.S. trading on Tuesday after the online travel company reported third-quarter results that beat estimates on both the top and bottom lines.
The Massachusetts-based firm reported adjusted earnings per share (EPS) of $0.52 on revenue of $533 million during the three months ended on Sept. 30, topping Bloomberg consensus estimates for EPS of $0.46 and revenue of $505.2M.
Analysts at Goldman Sachs noted that sales, which grew by 16% versus the corresponding period last year, were driven in part by better-than-expected performance at the group's Viator tourism experiences service. They added that strength at TripAdvisor's key hotel search offering "outran" investor fears around a normalizing post-pandemic travel demand environment.
Yasin Ebrahim contributed to this report.
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