After spinning off from Expedia and debuting on the NASDAQ in December, trip reviews site TripAdvisor posted fourth quarter 2011 revenues of $137.8 million, a 30% increase over fourth quarter 2010. Full year 2011 revenues were $637.1 million, a 31% increase over full year 2010. Fourth quarter 2011 GAAP earnings per share ) was $0.16 per diluted share compared to $0.14 for the fourth quarter 2010. Net income was $22 million, a 19% increase over fourth quarter 2010.

TripAdvisor, which was founded in 2000, was originally bought by IAC in for $212 million in 2004. IAC spun off Expedia, which included TripAdvisor, in 2005. With 50 million unique monthly visitors and 20 million members, TripAdvisor is the giant in the travel reviews space. The site publishes 25 new contributions every minute and also features over eight million candid traveler photos. The reviews site operates in 30 different countries, including in China under the site Daodao.

"The fourth quarter capped an exciting end to a great year for TripAdvisor, as we grew our valuable
user and content base, extended our platform and product offerings, and completed our spin-off from
Expedia", said Steve Kaufer, CEO of TripAdvisor. "In 2012 we expect to build upon our success and
continue to drive shareholder value making the necessary investments to accelerate growth and
profitability."

As we've written in the past, TripAdvisor's main revenue stream is cost-per-click advertising. Revenues from click-based advertising totaled $99.8 million for the fourth quarter of 2011, an increase of 24% compared to the fourth quarter of 2010. Revenues from display-based advertising totaled $22.9 million for the fourth quarter of 2011, an increase of 26% compared to the fourth quarter of 2010.