TripAdvisor shares surged 15.3 percent by the end of trading Thursday after the travel company reported that third-quarter earnings were boosted by its growing non-hotel business.
"We are on track to deliver strong profit growth in 2018, and we are well-positioned heading into 2019," CFO Ernst Teunissen said in a statement.
TripAdvisor reported adjusted earnings of 72 cents a share, beating FactSet estimates by 24 cents. The company's earnings growth was driven by its non-hotel segment, which gained 20 percent year over year. TripAdvisor's non-hotel business focuses on tours, restaurants and activities.
The company missed revenue expectations slightly, reporting $458 million for the third quarter as opposed to the $469.1 million analysts expected. TripAdvisor's hotel segment declined 2 percent in year-over-year revenue.
TripAdvisor shares are up 94.2 percent this year as of Thursday's close of $66.93 a share.