Tripadvisor Shares Down 11% After Company's Revenue Miss

Tripadvisor Inc. shares plunged 11% late Tuesday as the online travel company reported third-quarter sales that were below Wall Street expectations. Tripadvisor said it earned $55 million, or 37 cents a share, in the quarter, compared with $74 million, or 51 cents a share, in the year-ago period. Adjusted for one-time items, the company reported earnings of $78 million, or 53 cents a share, unchanged from the year-ago period. Sales reached $421 million in the quarter, up 1% from $415 million a year ago. Analysts polled by FactSet had expected Tripadvisor to report adjusted earnings of 52 cents a share on sales of $437 million. Tripadvisor said its average monthly unique visitors reached 390 million, up 11% year-on-year. The stock ended the regular trading day down 0.5%.