The world's largest travel site, TripAdvisor Inc TRIP reported its fourth quarter earnings after the market closed on Wednesday. Shares were plummeting after hours following a significant earnings miss.
- TripAdvisor reports Q4 EPS of $0.16, missing by $0.15
- Sales came in at $316 million, missing by $10 million
“2016 was an important transition year and one of great progress towards creating the best user experience in travel,” said CEO 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.”
After falling more than 11 percent, the stock traded recently at $50.05, down 5 percent.
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