* Fourth-quarter revenue up 23 pct to $169.4 million
* Fourth-quarter EPS excluding items 29 cents vs est 27
* CEO says costs to rise faster than revenue in 2013
* Shares down 10 pct in after-market trading
By Suzannah Benjamin
Feb 13 Travel website operator TripAdvisor Inc
forecast its costs would increase more quickly than
revenue in 2013, overshadowing a better-than-expected
fourth-quarter profit and sending its shares down 10 percent in
The company's continued efforts to invest in various online
and offline marketing campaigns would increase its expenses
throughout the year, mainly in the second half, Chief Executive
Steve Kaufer said in a conference call with analysts.
"We expect sales and marketing (expenditure) as a percent of
revenue to progress from the mid-30s to the low- to mid-40s
throughout the year," Kaufer said.
Newton, Massachusetts-based TripAdvisor aggregates reviews
and opinions about destinations and accommodation and depends on
advertisements and subscriptions for its revenue.
The company's total costs and expenses rose 17 percent to
$122.4 million during the fourth quarter.
Net income rose to $33.7 million, or 23 cents a share,
from$22.0 million, or 16 cents per share, a year earlier.
Excluding items, the company earned 29 cents per share.
Revenue rose 23 percent to $169.4 million.
Analysts on average had expected earnings of 27 cents per
share, excluding items, on revenue of $167.1 million, according
to Thomson Reuters I/B/E/S.
Shares of TripAdvisor were trading at $42.00 after the bell
on Wednesday. They closed at $46.90 on the Nasdaq.