TripAdvisor Inc. (NASDAQ: TRIP) saw its stock price plunge by over 5% in pre-market trading on November 7, 2024, despite reporting better-than-expected earnings for the third quarter. While the travel company's adjusted earnings per share (EPS) of $0.50 surpassed the consensus analyst estimate of $0.44, its revenue for the quarter fell short of Wall Street expectations, raising concerns about its growth prospects amid ongoing competitive pressures.

For the three months ended September 30, TripAdvisor posted revenue of $532 million, slightly lower than the expected $527.9 million and representing a 0.2% year-over-year decline. The revenue miss appeared to overshadow the positive earnings surprise, triggering a sell-off in the company's shares.

While TripAdvisor's Viator experiences and dining segment and TheFork dining reservations platform achieved strong revenue growth, the company's core Brand Tripadvisor segment, which includes its hotel meta-search and media business, reported a 12% year-over-year decline in revenue to $255 million. This decline was primarily driven by a 17% drop in branded hotels revenue, highlighting the ongoing challenges in TripAdvisor's legacy hotel meta-offering.