09:17 AM EDT, 05/08/2024 (MT Newswires) -- TripAdvisor ( TRIP ) reported Q1 non-GAAP earnings Wednesday of $0.12 per diluted share, up from $0.05 a year earlier.

Analysts polled by Capital IQ expected $0.04.

Revenue for the quarter that ended March 31 was $395 million, up from $371 million a year earlier.

Analysts surveyed by Capital IQ expected $394.8 million.

The travel services company said it had formed a special committee in February to explore options after controlling shareholder Liberty TripAdvisor Holdings said it intended to "engage in discussions with respect to a potential transaction." The company said its special committee has decided "there is no transaction with a third party that is in the best interests of the Company and its stockholders" at this time.

Shares of the company were down more than 31% in recent Wednesday premarket activity.

Price: 17.51, Change: -7.97, Percent Change: -31.28