TripAdvisor, Inc., which last year was spun off from former parent Expedia, Inc., reported fourth quarter 2011 revenues were $137.8 million, up 30 percent over the same quarter in 2010. Meanwhile, full year 2011 revenues were $637.1 million, up 31 percent over full year 2010.

Fourth quarter 2011 GAAP net income was $22 million, a 19 percent increase over fourth quarter 2010. Full year 2011 GAAP net income was $177.7 million, a 28 percent increase over full year 2010. Fourth quarter 2011 GAAP earnings per share (EPS) was $0.16 per diluted share compared to $0.14 for the fourth quarter 2010; full year 2011 GAAP EPS was $1.32 per diluted share compared to $1.04 per diluted share for the full year 2010. Fourth quarter 2011 adjusted EBITDA increased 20 percent over fourth quarter 2010 to $55.1 million, or 40 percent of revenue; full year 2011 adjusted EBITDA increased 24 percent over full year 2010 to $322.9 million, or 51% of revenue

 “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.”

According to TripAdvisor, revenues from click-based advertising totaled $99.8 million for the fourth quarter of 2011, an increase of 24 percent compared to the fourth quarter of 2010. Click-based advertising revenue represented 72 percent of total revenue in the fourth quarter of 2011, compared to 76 percent in the fourth quarter of 2010. Revenues from click-based advertising totaled $500 million for the year ended Dec. 31, 2011, an increase of 30 percent compared to the year ended Dec. 31, 2010. Click-based advertising revenue represented 79 percent of total revenue for the year ended Dec. 31, 2011, compared to 79 percent of revenue for the year ended Dec. 31, 2010.

Revenues from display-based advertising totaled $22.9 million for the fourth quarter of 2011, an increase of 26 percent compared to the fourth quarter of 2010. Display-based advertising revenue represented 17 percent of total revenue in the fourth quarter of 2011, compared to 17 percent in the fourth quarter of 2010. Revenues from display-based advertising totaled $85.7 million for the year ended Dec. 31, 2011, an increase of 19 percent compared to the year ended Dec. 31, 2010. Display-based advertising revenues represented 13 percent of total revenue for the year ended Dec. 31, 2011, compared to 15 percent in the year ended Dec. 31, 2010.

Revenues from subscription and other sources totaled $15.1 million for the fourth quarter of 2011, an increase of 101 percent, compared to the fourth quarter of 2010. Subscription and other revenue represented 11 percent of total revenue in the fourth quarter of 2011, compared to 7 percent in the fourth quarter of 2010. Revenues from subscription and other totaled $51.4 million for the year ended Dec. 31, 2011, an increase of 76 percent compared to the year ended Dec. 31, 2010. Subscription and other revenues represented 8 percent of total revenue for the year ended Dec. 31, 2011, compared to 6% for the year ended December 31, 2010.

Related-party revenues from Expedia totaled $37.5 million for the fourth quarter of 2011, an increase of $1.0 million, or 3%, compared to the fourth quarter of 2010. Related-party revenues from Expedia totaled $211.0 million for the year ended December 31, 2011, an increase of $39.9 million, or 23%, compared to the year ended December 31, 2010.

TripAdvisor began trading as an independent public company on the NASDAQ Global Select Market on Dec. 21, 2011, under the ticker symbol "TRIP" following the completion of its spin-off from Expedia, Inc.