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Why TripAdvisor Stock Is Taking Off After Hours

Adam Eckert
·1 分鐘文章

TripAdvisor Inc (NASDAQ: TRIP) shares are trading higher in Tuesday's after-hours session after the company reported fourth-quarter results that topped analyst estimates.

What Happened: TripAdvisor said fourth-quarter revenue increased 47% year-over-year to $354 million, which beat average analyst estimates of $343.91 million, according to Benzinga Pro. The company reported quarterly earnings of 16 cents per share, which easily beat estimates of 4 cents per share.

"We are pleased with our fourth quarter, which exceeded our expectations and brought to close a strong fiscal 2022 across each of our segments. Our results reflect a combination of continued strength in the travel industry, the value our portfolio provides to travelers and partners, and the focus of our teams," said Matt Goldberg, CEO of TripAdvisor.

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The company ended the quarter with $1.02 billion in cash and equivalents, up $298 million year-over-year.

View more earnings on TRIP

TripAdvisor did not provide forward guidance, but the company said it would focus on operational alignment and execution in 2023 as it moves toward longer-term improvements in engagement. TripAdvisor is set to hold an earnings call Wednesday morning at 8:30 a.m. ET.

See Also: What's Going On With Upstart Stock After Hours?

TRIP Price Action: TripAdvisor has a 52-week high of $30.48 and a 52-week low of $16.87.

The stock was up 8.46% after hours at $27.34 at the time of writing, according to Benzinga Pro.

Photo: Somchai Sumnow from Pixabay.

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This article Why TripAdvisor Stock Is Taking Off After Hours originally appeared on Benzinga.com

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