Tripadvisor Inc (NASDAQ:TRIP) shared some good news with investors before the bell on Thursday, and the market is reacting accordingly.
CNBC has the details.
TripAdvisor shares rose more than 8 percent in premarket trading Thursday after the travel company reported third-quarter earnings were boosted by its growing non-hotel business.
“We are on track to deliver strong profit growth in 2018, and we are well-positioned heading into 2019,” TripAdvisor CFO Ernst Teunissen said in a statement.
For the quarter, the company reported revenue of $458 million and adjusted earnings of 72 cents a share. Analysts were expecting $469.1 million and 24 cents.
Tripadvisor Inc Common Stock shares rose $4.43 (+7.63%) in premarket trading Thursday. Year-to-date, TRIP has gained 68.51%, versus a 6.68% rise in the benchmark S&P 500 index during the same period.