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In spite of beating Q1 estimates, TripAdvisor (TRIP -3.3%) is giving back some of this year's...

In spite of beating Q1 estimates, TripAdvisor (TRIP -3.3%) is giving back some of this year's gains. The apparent trigger: concerns about the near-term impact of TripAdvisor's growing reliance on its travel metasearch service (competes with Priceline's Kayak and Expedia's Trivago) for revenue, relative to regular travel ads. On its earnings call, TripAdvisor mentioned metasearch ad prices are several times above traditional rates, but added "there's still work to be done" in improving click rates and developing advertiser tools. Also, while smartphone hotel shoppers grew "well over 100%" in Q1, they "monetized at less than 20%" of the PC rate.

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