By Chris Wack
TripAdvisor Inc. Shares were up 19% to $23.81 Friday after the company reported second-quarter earnings that were higher than analysts expected.
The travel-guidance platform said it had quarterly earnings of $31 million, or 21 cents a share, compared with a loss of $40 million, or 29 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $10.6 million, or 9 cents a share.
Revenue for the quarter was $417 million, up from last year’s $235 million and the $391.6 million analysts were expecting.
Adjusted earnings for the quarter were 37 cents a share, compared with the 26 cents a share analysts had forecast.
The company said it saw improvement to its bottom line due to the strong demand in leisure travel, and higher growth rates in its Viator and TheFork businesses.
TripAdvisor also said its revenue has nearly reached parity with the comparable quarter in 2019, before the Covid-19 pandemic hit.
Write to Chris Wack at [email protected]
Credit: www.marketwatch.com /