TripAdvisor Inc. (NASDAQ: TRIP) on Wednesday reported fourth quarter revenue that beat analysts’ estimates and provided strong guidance for 2018, sending its share up more than 6 percent.
The company posted revenue of $321 million in the quarter ended December 31, 2017. Analysts polled by Zacks Investment Research had projected revenue of $310.9 million.
TripAdvisor reported a loss of $84 million, or 60 cents a share, in the four quarter. It missed analysts’ estimates.
“During Q4 and 2017 we continued to make progress along our key initiatives,” said Chief Executive Officer Steve Kaufer. “Continued product enhancements, as well as strong content, community and supply growth, nicely position the TripAdvisor platform in front of long-term growth opportunities. In 2018 and during the years ahead, we will continue to improve the traveler experience, helping more users in more moments throughout the travel journey. We will find new ways to help travel partners get more visibility in front of our massive global travel audience. We are taking essential steps to unlock long-term growth.”
TripAdvisor shares surged as much as 20 percent in the extend trading on Wednesday. But it eased some gains on Thursday morning and it is trading 7.91 percent higher at $43.93. The company was up about 27.8 percent this year.
In 2018, the company now expected expect strong revenue growth at levels similar to 2016 and 2017 in its Non-Hotel segment.