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TripAdvisor profits are on the rise
TripAdvisor Inc. says fourth-quarter profits rwent up 19% as advertising rose.
The online travel- recommendation service was spun off from Expedia Inc. last December.
Net income climbed to US$22 million, or 16 cents a share, from $18.4 million, or 14 cents, a year earlier, the Newton, Massachusetts-based company said in its first quarterly report as an independent company. Revenue jumped 30% to $137.8 million.
Expedia separated TripAdvisor from its main online travel agency to let shareholders own stakes directly in faster-growing TripAdvisor, according to Bloomberg news.
Expedia has struggled to compete with Priceline Inc.’s international growth, while advertising revenue at TripAdvisor has been rising, the site says.
In the fourth quarter, $37.5 million, or 27% of TripAdvisor revenue, came from Expedia. That compared with $36.5 million, or 34%, a year earlier.
TripAdvisor has 19 travel and advertising brands. It operates in 30 countries and has 50 million users a month visiting the site to research and plan trips, according to company figures.
By David Wilkening
David
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