(Tripadvisor) Shares of Tripadvisor Inc. fell more than 8% on Tuesday after its 2021 third quarter revenue of $303 million missed expected $307.3 million. The revenue were double from $151 million in the prior year.
GAAP net income was $1 million in the third quarter or $0.01 earnings per share, an increase from a loss of $48 million or -$0.36 EPS in the prior year.
Monthly unique users on Tripadvisor in the third quarter rose to about 76% of the 2019’s comparable levels.
CEO Steve Kaufer says the company is taking key initiatives, with a target on the long-term, but remains cautiously optimistic of near-term travel trends.
The CEO Kaufer, who is also the co-founder, says he will depart from his role in the company in 2022.
TRIP: NASDAQ is down -7.28% on premarket.
