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TripAdvisor soars after 1Q earnings beat Street handily on non-hotel segment

The online travel company gave positive remarks regarding 2018 guidance

A screenshot of the TripAdvisor app
Shares of the online travel company soared in pre-market trade

Investors sent up shares of Tripadvisor Inc. (NASDAQ:TRIP) in pre-market trading on Wednesday after the Massachusetts-based online travel company posted a surprise earnings and revenue beat.

Tripadvisor soared 19.4% to US$46.30 before the opening bell.

For the quarter ended March 31, TripAdvisor posted earnings of US$0.30 per share on revenue of US$378mln. The company handily beat the consensus earnings estimate number which was US$0.15 per share on revenue of $360.8mln.

"We had a strong start to 2018," said TripAdvisor CEO Steve Kaufer. "Our hotel results were ahead of our expectations, and we delivered accelerated non-hotel revenue growth." 

The company's earnings are being driven by its non-hotel segment, specifically homes and alternative lodging, which has grown 36% year-over-year. Average monthly unique visitors also increased.

TripAdvisor also gave positive remarks regarding 2018 guidance.

“Our good start has made us more positive about our 2018 profitability outlook,” said TripAdvisor CFO Ernst Teunissen.

Quick facts: Tripadvisor

Price: 18.92 USD

NASDAQ:TRIP
Market: NASDAQ
Market Cap: $2.54 billion
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