Shares of Travelzoo (TZOO) dropped 10% on Wednesday morning after the company reported reported its results for the second quarter with profit dropping despite a 13% year-over-year increase in revenues.
TZOO is currently trading at $12.33, down $1.37 or 10.00%, on the Nasdaq.
Revenues rose to $23.9 million from $21.1 million last year, driven by strong advertising and commerce performance.
Net income declined sharply hurt largely by marketing costs. Net income attributable to Travelzoo fell to $1.4 million, or $0.12 per share, compared with $2.9 million, or $0.23 per share last year.
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