TripAdvisor's first-quarter results failed to meet expectations on all major fronts. Revenue was down 3% to $352 million, leaving far below the $370 million consensus forecast among those following the stock. Net income also struggled, falling more than 40% on an adjusted basis to $47 million and producing adjusted earnings of $0.32 per share, which was $0.14 less than investors had expected. Looking more closely at TripAdvisor's numbers, some of the headwinds that have held back growth actually let up during the quarter. The strong dollar weighed on TripAdvisor's results, for example, but it only cost the company about two percentage points of potential sales growth. Yet some of the past trends that investors have seen at TripAdvisor remained squarely in place. For instance, click-based advertising revenue continued to slump, falling 13% from the year-ago quarter. However, display-based advertising revenue rose by 11%, and similar double-digit percentage gains in the other hotel category and from non-hotel sources pointed to a sizable disparity among core revenue-generating areas. Get the full story at The Motley Fool and TripAdvisor Read also "TripAdvisor sees further financial dampening as instant booking takes hold" at Tnooz and "TripAdvisor’s Instant Booking bet looks ugly right now" at Skift