Tripadvisor Inc (NASDAQ:TRIP) shares moved higher in afterhours trade on Monday as it reported better than expected third quarter financial results.
The travel research platform posted revenue of $533 million, up 16% over the year-ago quarter and ahead of estimates of $506 million.
Revenue in its tours and attractions business Viator grew 41% over the same period last year from $174 million to $245 million.
Tripadvisor's adjusted earnings per share of $0.52 topped forecasts of $0.48.
The company's finance chief Mike Noonan attributed the company’s revenue growth to better-than-expected performance across its experiences and Tripadvisor Core hotel meta offerings.
“We also exceeded expectations for adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) at $127 million or 24% of revenue, in large part due to revenue performance,” Noonan said.
Tripadvisor shares gained 8.9% at US$17.55 shortly following the release of its earnings.
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