Tripadvisor Inc (NASDAQ:TRIP) posted its latest quarterly results after hours today, missing analysts’ expectations on the earnings front.
The trip and hotel review website announced a loss of $84 million, or 60 cents per share during its fourth quarter of fiscal 2017. The figure was hit hard by a $73 million charge related to the new U.S. tax code.
On an adjusted basis excluding this charge and other one-time costs, TripAdvisor earned six cents per share, 10 cents less than its year-ago total. Analysts were calling for adjusted earnings of 14 cents per share for the period.
On the revenue front, the company raked in sales of $321 million, topping the year-go revenue of $316 million. The Wall Street consensus estimate called for revenue of $309 million.
User reviews and opinions surged 29% year-over-year at TripAdvisor, reaching 600 million at the end of the quarter. The number of average monthly unique visitors on the company’s website and its branded websites and applications surged 17% during the fourth quarter, reaching 455 million during the 2017 peak summer travel season.
The company’s click-based and transaction revenue fell 11% during the period, but grew 1% for the full year, while its revenue per hotel shopper slipped 14% for its fourth quarter and 7% during the full year.
“We believe our addressable market opportunity, our unique competitive position and our growth strategy position us to return to double-digit revenue growth and adjusted EBITDA margins in excess of what we have operated to over the past couple of years,” executives said in the earnings call.
TRIP stock fell 0.7% after the bell Wednesday.
