Shares in TripAdvisor have fallen in after-hours trading after a disappointing set of results from the company.
Revenue for the full year ending 31 December 2016 fell one per cent annually to $1.48bn. Net income was $120m, down 39 per cent year-on-year.
Why it's interesting
The travel company's revenue missed estimates due to lower advertisements on its websites and a fall in revenue from subscriptions, leading to its share price dropping 4.3 per cent in after-hours trading to $50.26.
What TripAdvisor said
Chief executive officer Steve Kaufer said: "2016 was an important transition year and one of great progress towards creating the best user experience in travel.
"We rolled out hotel instant booking globally and strengthened our position in attractions, restaurants and vacation rentals.
"With our price comparison and booking capabilities in place, we are focused on raising consumer awareness of TripAdvisor as a great place to price shop and book."