Business

Mass. Movers

TripAdvisor falls as traffic takes dip

TripAdvisor Inc. is based in Newton.
Reuters
TripAdvisor Inc. is based in Newton.

TripAdvisor tumbled 9.2 percent, the biggest drop in the S&P 500, after CEO Steve Kaufer said summer has been ‘‘bumpier’’ than forecast and traffic on TripAdvisor’s travel website is ‘‘not as strong’’ as anticipated. TripAdvisor recently rolled out a new method of directing customers to booking partners like Expedia. Kaufer said fewer click-throughs to third-party sites have yet to be offset by higher prices TripAdvisor can charge for clicks that have a greater chance of converting into a booking. He expects improvement by the end of the year.

Advertisement