NEW YORK (TheStreet) -- Shares of TripAdvisor Inc. (TRIP) are falling by 12.04% to $73.70 in pre-market trading on Wednesday, after the company reported a decline in its third quarter 2014 net income to $54 million, or 37 cents per diluted share, compared to $56 million, or 38 cents per diluted share for the year ago period.
The online travel research company said net income on a non-GAAP basis was $71 million, or 48 cents per share, falling short of the 60 cents per share analysts polled by Thomson Reuters were expecting.
TripAdvisor posted a rise in revenue to $354 million, versus $255 million for the 2013 third quarter.
Analysts were expecting $348.81 million in revenue for the quarter.
Separately, TheStreet Ratings team rates TRIPADVISOR INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRIPADVISOR INC (TRIP) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and growth in earnings per share. However, as a counter to these strengths, we find that the stock has experienced relatively poor performance when compared with the S&P 500 during the past year."
You can view the full analysis from the report here: TRIP Ratings Report