Travelzoo (NASDAQ:TZOO) shares added nearly 30% Tuesday after the company reported a year-over-year jump in sales and earnings as travellers flocked to the media commerce company that publishes travel and entertainment offers in search of vacation deals.
The company earns revenue from advertising and commissions in connection with Travelzoo (NASDAQ:TZOO) members’ purchases.
For the quarter ended in September, Travelzoo posted a 30% year-over-year leap in revenue from $15.8 million to $20.6 million.
Earnings per share (EPS) were $0.16, up from $0.06 in the year-ago quarter.
Both metrics topped Wall Street analysts’ expectations of revenue of $18.6 million and EPS of $0.09.
Its worldwide member count rose from 30.5 million as of September 30, 2022, to 31.2 million.
"Year-over-year revenue growth accelerated from Q2 to Q3," Travelzoo Global CEO Holger Bartel highlighted.
"We will continue to leverage Travelzoo's global reach, trusted brand, and strong relationships with top travel suppliers to negotiate more exclusive offers for members. It is in times of large increases in travel prices that Travelzoo is most valuable for consumers.”
Travelzoo stock was up 29.7% at US$6.81 at noon on Tuesday.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on X, formerly known as Twitter, @emilyjjarvie