Shares of online travel company TripAdvisor (TRIP) soared more than 5% in pre-market trading on Thursday, following the release of its better-than-expected fourth-quarter results.
According to the reported financial figures, TripAdvisor's revenue for the fourth quarter came in at $411 million, surpassing the consensus estimate of $400 million. The company's adjusted net income of $43 million also exceeded analysts' expectations of $29.9 million.
TripAdvisor's strong performance in the fourth quarter was likely driven by a rebound in travel demand, as consumers continued to prioritize leisure activities and experiences following the easing of pandemic-related restrictions. The company's diversified offerings, including travel reviews, booking services, and advertising solutions, likely contributed to its revenue growth.
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