NEEDHAM, Mass. (AP) _ TripAdvisor Inc. (TRIP) on Tuesday reported first-quarter profit of $13 million.
On a per-share basis, the Needham, Massachusetts-based company said it had profit of 9 cents. Earnings, adjusted for stock option expense and amortization costs, came to 24 cents per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The travel website operator posted revenue of $372 million in the period, which also missed Street forecasts. Nine analysts surveyed by Zacks expected $378.7 million.
TripAdvisor shares have increased 1 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 7 percent. In the final minutes of trading on Tuesday, shares hit $46.92, a drop of 26 percent in the last 12 months.
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