TripAdvisor revenue up 29.2 percent on higher click-based advertising
(Reuters) - Travel review website operator TripAdvisor Inc reported a 29.2 percent rise in quarterly revenue as it earned more from click-based advertising and display ads.
Shares of the company, which owns websites such as tripadvisor.com and oyster.com, rose about 5.8 percent to $81.30 in extended trading on Wednesday.
Revenue from click-based advertising rose 20 percent to $249 million (£163 million) in the first quarter ended March 31 from a year earlier and accounted for 69 percent of total revenue, the company said.
TripAdvisor gets fees when users click on advertisements on its websites.
Monthly unique visitors grew 31 percent to 340 million, the company said.
Revenue from North America rose 25 percent to $182 million, representing 50 percent of total revenue.
Total revenue rose to $363 million from $281 million, but missed the average analyst estimate of $365 million, according to Thomson Reuters I/B/E/S.
On a constant currency basis, total revenue grew 36 percent, the company said.
TripAdvisor's net income fell to $63 million, or 43 cents per share, from $68 million, or 47 cents per share.
On an adjusted basis, TripAdvisor earned 54 cents per share, just missing the average estimate of 55 cents.
The company's shares closed at $76.80 on the Nasdaq on Wednesday.
(Reporting by Kshitiz Goliya in Bengaluru; Editing by Simon Jennings)
