NEWTON, Mass. (AP) -- TripAdvisor Inc.'s shares plunged in after-hours trading Tuesday after it reported higher second-quarter revenue but missed Wall Street expectations.
The company was spun off from Expedia Inc. in December and offers travel services, such as flight searches and sharing hotel reviews, at an array of websites. The company said it had an average of more than 54 million unique monthly visitors during the quarter
TripAdvisor made $53 million, or 37 cents per share, for the quarter ended June 30. That's down from $54.1 million, or 41 cents per share, in the same quarter last year. It earned 41 cents per share versus 38 cents per share on an adjusted basis. That met the expectations of analysts polled by FactSet.
Total revenue increased 7 percent to $141.4 million with gains in its advertising and subscription revenue, but that was far below analysts' expectations of $203 million.
TripAdvisor, like many companies that operate worldwide, is struggling with the impact of the tough global economy.
Shares of the Newton, Mass.-based company fell $6.92, nearly 16 percent, to $36.55 in after-hours trading. The stock closed down nearly 5 percent at $43.47 in the regular session.