The world’s largest travel review company posted revenues of $958 million in the nine months, up by 31% year on year. All the three divisions posted strong top line growth - click-based advertising revenue increased by 25% year on year to $689 million, display-based advertising increased by 21% year on year to $104 million, and subscription & transaction revenue increased by 76% year on year to $165 million. However, in the third quarter, the performance fell short of the growth expected by the company. The primary reason for the setback was a seasonal decline in the click per hotel shopper since mid-August 2014. Also, despite the strong top-line growth, TripAdvisor’s adjusted EBITDA increased by around just 14% in the first nine months, due to the acquisition related expenditures, coupled with the expenses directed towards capturing a bigger share of the travel and entertainment. For full year 2014, the management expects total revenue growth between the high 20% to low 30% range and the click based revenues growth in the mid-20% range. Get the full story at Trefis