Tripadvisor Soars on Q2 Earnings Beat

released its fiscal second-quarter earnings results on Wednesday after the closing bell. The company reported both earnings per share and revenue that came in ahead of Wall Street estimates. In late trading, the stock was last up almost 15 percent to $70.01.

"There was a lot for TripAdvisor fans to be excited about during the second quarter," said Steve Kaufer, President and CEO of TripAdvisor. "Our strong financial performance was driven by continued traffic growth. We also kicked off our first-ever offline ad campaign to enhance brand awareness. Perhaps most notably, we bid 'adieu' to pop-ups and rolled out our new hotel metasearch display, which makes it easier for travelers to find a great hotel as they plan their perfect trip."

TripAdvisor reported net income of $67.0 million or $0.46 per share, compared to $53.0 million or $0.37 per share, in last year's corresponding period. Earnings on an adjusted basis were $75.7 million or $0.52 per share. This topped Wall Street analysts' consensus EPS estimates of $0.49. Sales in the quarter were up 7 percent to $246.94 million from $197.15 million last year. This also beat analysts' consensus revenue estimates of $236.64 million.