TripAdvisor shares surge more than 10% on earnings beat
TripAdvisor Inc. shares rallied in the extended session Wednesday after the travel site's quarterly earnings topped Wall Street estimates. TripAdvisor shares surged 12% after hours, following a 1.9% rise to close the regular session at $58.07. The company reported third-quarter net income of $69 million, or 49 cents a share, compared with $25 million, or 18 cents a share, in the year-ago period. Adjusted earnings were 72 cents a share. Revenue rose to $458 million from $439 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 48 cents a share on revenue of $469.1 million. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.