Shares of TripAdvisor Inc. (NASDAQ: TRIP), an online travel research company helping users plan and have a trip, are soaring in early trading today. At last check, TRIP shares were trading 20.88% higher at $35.55 on above average volume of 815,043. The stock hit an intra-day high of $35.95 in early trading today.
TRIP shares are rallying in trading today after the company reported its third-quarter financial results. For the quarter ended September 30, 2012, TRIP reported revenue of $212.7 million, representing an increase of 8% over the previous quarter. The company’s net income for the quarter rose 12% on a sequential basis to $59.4 million, or $0.41 per share. Non-GAAP net income for the quarter was $65.8 million, or $0.46 per share, representing an increase of 12% over the same period in the previous year.
Steve Kaufer, President and CEO of TripAdvisor, said that as the company drives continued traffic and content growth on a global scale, it is making wonderful strides to enhance the TripAdvisor experience for both its traveler community and its advertising partners alike.
Shares of American International Group Inc. (NYSE: AIG), an international insurance company serving customers in over 130 countries, are down sharply in early trading today. At last check, AIG shares were trading 5.34% lower at $33.32 on volume of 8.74 million.
AIG shares are down following the release of the company’s third-quarter results. For the quarter ended September 30, 2012, AIG reported net income of $1.9 billion. The company reported after-tax operating income of $1.6 billion for the quarter. For the same period in the previous year, AIG reported net loss of $4 billion and an after-tax operating loss of $3 billion.
Robert H. Benmosche, President and CEO of AIG, said that the company again posted a solid quarter, reflecting the continued strength of its core insurance operations and strong investment returns. Benmosche further said that the company is seeing continued momentum and is building for the future by creating a more streamlined, efficient and nimble company.
Shares of Priceline.com Inc. (NASDAQ:PCLN), an online travel company offering customers hotel room reservations at more than 210,000 hotels worldwide through the Booking.com, priceline.com and Agoda brands, are seeing a huge rally in trading today. At last check, PCLN shares were trading 10.73% higher at $649 on above average volume of 1.09 million. The stock hit an intra-day high of $657.60 in early trading today.
PCLN shares are soaring in early trading today after the company reported its third-quarter financial results. For the third quarter of 2012, PCLN reported gross travel bookings of $7.8 billion, representing an increase of 25.2% over the same period in the previous year.
Revenue for the quarter was $1.7 billion, representing an increase of 17.4% over the same period in the previous year. International operations posted revenue of $1.2 billion for the quarter. The company’s GAAP net income for the quarter was $597 million, or $11.66 per share, compared to $469 million, or $9.17 per share reported for the same period in the previous year. Non-GAAP net income for the quarter was $638 million, up 24.5% over the same period in the previous year.
Jeffery H. Boyd, President and CEO of Priceline, said that the company delivered growth and operating results in the third quarter as growth in the second half of the quarter in the key European market exceeded forecast.
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