TripAdvisor's profit misses estimate as costs climb
July 23 (Reuters) - Online travel research company TripAdvisor Inc reported a lower-than-expected quarterly profit, sending its shares down 9 percent in extended trading.
Total selling and marketing costs rose 53 percent to $127 million in the second quarter ended June 30.
Net income rose to $68 million, or 47 cents per share, from $67 million, or 46 cents per share, a year earlier. (bit.ly/1A7iLn8)
Excluding items, TripAdvisor earned 55 cents per share, 6 cents below what analysts on average had expected, according to Thomson Reuters I/B/E/S.
Revenue rose about 31 percent to $323 million, helped by higher income from referrals to booking sites.
TripAdvisor's shares were trading at $98.14 in after-hours trading. (Reporting by Mridhula Raghavan in Bangalore)