TripAdvisor Inc TRIP shares are trading lower by more than 15% in Monday's after-hours session after the company reported third-quarter earnings results that came in below analyst expectations. TripAdvisor also issued soft guidance.
TripAdvisor said third-quarter revenue increased 51% year-over-year to $459 million, which beat average analyst estimates of $441.42 million, according to Benzinga Pro. The travel company reported quarterly adjusted earnings of 28 cents per share, which missed average estimates of 38 cents per share.
"All of our segments delivered another quarter of sequential revenue improvement, thanks to the focus and execution from our teams," said Matt Goldberg, CEO of TripAdvisor.
TripAdvisor expects fourth-quarter consolidated revenues to grow in the low-single digit range compared to 2019, which implies the company expects a slowdown relative to the third quarter.
TRIP Price Action: TripAdvisor has a 52-week high of $30.48 and a 52-week low of $16.87.
The stock was down 17% in after hours at $19.75 at time of publication.
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