TripAdvisor Shares Take Off after Strong Profit Report

Tuesday, 01 May 2012 05:05 PM

 

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Shares of TripAdvisor Inc., the online travel-recommendation service spun off from Expedia Inc., surged in extended trading Tuesday after the company reported first-quarter profit and sales that topped some analysts’ estimates.

The shares climbed as much as 21 percent to $44.25, after earlier closing at $36.53 in New York. The stock has increased 45 percent this year.

First-quarter earnings excluding some items were 38 cents a share, the Newton, Massachusetts-based company said in a statement today. That compares with an average analyst projection of 34 cents, according to data compiled by Bloomberg. Revenue of $183.7 million exceeded the $174.4 million estimate.

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