Tripadvisor Inc. (NASDAQ:$TRIP) saw a dip in its stock today. And those interested in the travel industry will find this to be surprising, as the travel company just posted an earnings beat for Q2 of 2017.
During the second quarter, Tripadvisor Inc. posted earnings per share of 38 cents, which matches the EPS from Q2 in 2016. Additionally, it surpassed Wall Street’s earnings per share forecast of 30 cents.
Revenue for Tripadvisor came in at $424 million, which is significant news, as it is an increase over its revenue of $391 million from the same time in 2016. Further, it comes in above analysts’ revenue estimates of $421 million for the quarter.
One potential reason as to why the company’s stock was down today could be that, despite beating estimates for the quarter, not everything in the earnings report was positive news for the stock. For instance, net income came in at $27 million, which is down 21% from Tripadvisor’s net income of $34 million from the same period in 2016.
In addition, Tripadvisor reported operating income of $46 million. This is a slight decrease from $47 million in 2016.
The stock could also be down because of a new price target from Susquehanna. Today, the firm announced that it will be lowering its price target for the TRIP stock from $40 per share to $32 per share.
As of Wednesday afternoon, Tripadvisor stock was down 2% and down 17% so far this year.
Featured Image: depositphotos/lucidwaters
