TripAdvisor sinks as earnings disappoint Online travel booking company TripAdvisor lagged behind the S&P 500 after the company's third-quarter earnings missed expectations. It reported net income of $54m, or 37 cents a share, in the three months ended September compared with $68m, or 47 cents a share, a year ago. Sales climbed 39 per cent to $354m. Wall Street analysts were looking for earnings of 51 cents a share on sales of $348.9m. Adjusted earnings of 48 cents a share missed expectations for 60 cents a share. Revenue from click-based advertising climbed 31 per cent to $247m but represented 70 per cent of total revenue, down from 74 per cent in the year-ago period. The acquisition of Viator, which helped boost overall revenue growth, was partially offset by lower than expected click-based revenue growth, according to Steve Kaufer, TripAdvisor chief executive. Management lowered adjusted earnings before interest, taxes, depreciation and amortisation (ebitda) to the low 20 per cent range from high-20s. Management did, however, reiterate full-year revenue growth guidance of high 20s to low 30s. Shares fell 14 per cent to $72.30 and are down 13 per cent this year. FireEye shares dropped 15 per cent to $29.07 after third-quarter sales missed expectations and guidance disappointed. The security technology company reported a third-quarter loss of 83 cents a share, which beat expectations for a loss of 87 cents a share. Sales of $114.2m missed Wall Street expectations for $116.05m. The lower end of fourth-quarter sales guidance of $135m-$147m was below estimates for $144.3m. The company, once a Wall Street darling, has fallen from favour following three straight quarters of revenue misses. "Last night's results came in below consensus and this is in light of market demand that is healthier than it has ever been in the history of this market," said Andrew Nowinski, an analyst at Piper Jaffray. Mr Nowinski, however, added that its new product, FireEye as a Service, had an impact on revenue since revenue from the services was recognised "over the term of a contract rather than upfront." Shares of Devon Energy climbed nearly 10 per cent to $61.62 after it beat third-quarter earnings and sales expectations. It reported net income of $1.02bn, or $2.47 a share, on sales of $5.34bn. This beat Wall Street expectations for earnings of $1.22 a share on sales of $4.45bn. Antero Midstream Partners, a master limited partnership spun off from Antero Resources, rose 18 per cent to $29.42 in early morning trading on Wednesday after it priced shares at $25 in an upsized offering on Tuesday. Demand for master limited partnerships, which allow companies to avoid corporate income taxes and to pay out most of their profits to shareholders, has climbed this year as investors search for yield-bearing assets. US stocks gained on Wednesday after the Republican Party seized the Senate and took full control of Congress for the final two years of President Barack Obama's term in office. The S&P 500 rose 0.6 per cent to 2,023.57, the Dow Jones Industrial Average climbed 0.6 per cent to 17,484.53, but the Nasdaq Composite slipped 0.1 per cent to 4,620.72.