TripAdvisor, Inc. Posts Much Worse Than Expected Q4 Results
TripAdvisor, Inc. (NASDAQ:TRIP ) late Wednesday [Feb 15, 2017 | 4:14pm] posted much worse than expected fourth quarter earnings results, sending its shares sharply lower in aftermarket trading.
Written by StockNews.com
The Needham, MA-based online travel agency reported Q4 EPS of $0.16, which was a full $0.15 worse than the Wall Street consensus estimate of $0.31. Revenues rose 2.3% from last year to $316 million, also missing analysts’ $327.19 million view.
TRIP blamed the poor fourth quarter performance on big investments made in various growth initiatives, but said it “turned a corner” toward the end of the period. TripAdvisor also noted it’s prioritizing revenue growth in 2017 in attempts to turn things around.
The company commented via press release:
“2016 was an important transition year and one of great progress towards creating the best user experience in travel,” said Chief Executive Officer Steve Kaufer. “We rolled out hotel instant booking globally and strengthened our position in Attractions, Restaurants and Vacation Rentals. With our price comparison and booking capabilities in place, we are focused on raising consumer awareness of TripAdvisor as a great place to go to price shop and book.”
...Prior to today’s report, TRIP had gained 13.65% year-to-date, versus a 5.08% rise in the benchmark S&P 500 index during the same period.
TRIP currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #26 of 44 stocks in the Internet category.
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