Why TripAdvisor Stock Is Taking Off After Hours

TripAdvisor Inc TRIP shares are trading higher in Tuesday's after-hours session after the company reported fourth-quarter results that topped analyst estimates.

What Happened: TripAdvisor said fourth-quarter revenue increased 47% year-over-year to $354 million, which beat average analyst estimates of $343.91 million, according to Benzinga Pro. The company reported quarterly earnings of 16 cents per share, which easily beat estimates of 4 cents per share.

"We are pleased with our fourth quarter, which exceeded our expectations and brought to close a strong fiscal 2022 across each of our segments. Our results reflect a combination of continued strength in the travel industry, the value our portfolio provides to travelers and partners, and the focus of our teams," said Matt Goldberg, CEO of TripAdvisor.

The company ended the quarter with $1.02 billion in cash and equivalents, up $298 million year-over-year.

TripAdvisor did not provide forward guidance, but the company said it would focus on operational alignment and execution in 2023 as it moves toward longer-term improvements in engagement. TripAdvisor is set to hold an earnings call Wednesday morning at 8:30 a.m. ET.

See Also: What's Going On With Upstart Stock After Hours?

TRIP Price Action: TripAdvisor has a 52-week high of $30.48 and a 52-week low of $16.87. 

The stock was up 8.46% after hours at $27.34 at the time of writing, according to Benzinga Pro.

Photo: Somchai Sumnow from Pixabay.