Trivago Shares Soaring After Company Swings To Profit

Shares of Trivago N.V. , a hotel and flight booking site, were soaring 21% Monday morning, after the company swung to a profit from its year-earlier results. The German-based company reported net income of €7.7 million, compared to a loss of €0.1 million euros in the first quarter of 2016. Revenue grew 68% to €267.7 million, up from €159 million in the year-earlier period. Axel Hefer, the chief financial officer of Trivago, said the results were driven by improvements in the company's technology and algorithms as well as general growth in the business. Trivago reaffirmed its full-year guidance, with total revenue expected to grow by 50%.