TripAdvisor (NASDAQ:TRIP) reported its latest quarterly earnings results on Monday, which were mixed as the company’s earnings was ahead of expectations, while its revenue was below analysts’ outlook, sending shares sinking late in the day.
The Massachusetts-based travel and restaurant website said that for its second quarter of fiscal 2018, it brought in a profit of 23 cents per share. On an adjusted basis when considering one-time gains and costs, the company earned 41 cents per share.
TripAdvisor’s earnings were better than the average estimate of the Zacks Investment Research, which amassed information through a survey of 14 analysts, of 39 cents per share. On the revenue front, the company raked in sales of $433 million, which was below the $436.1 million that the Wall Street consensus estimate called for, according to the Zacks poll.
Total revenue was up by 2% compared to the year-ago quarter thanks to the company’s positive results for its non-hotel revenue. TripAdvisor’s adjusted EBITDA marked an increase of 8% compared to the year-ago period.
The company’s Experiences category of non-hotel revenue was its strongest metric as the platform experienced a nearly two-fold increase in the number of bookable experiences to 121,000, ahead of the 61,000 from TripAdvisor’s second quarter of fiscal 2017.
TRIP stock fell about 0.6% during regular trading hours in anticipation of the company’s quarterly earnings report, which sent shares plummeting nearly 12.1% after the bell on its revenue miss.