Trivago shares surge most in two years

Trivago shares soared the most in almost two years Wednesday after the hotel search site swung to a profit in the third quarter and raised its outlook for the year. The Dusseldorf, Germanybased hotel booking platform has cut spending on advertising to “adapt to the changing dynamics on our marketplace,” which helped push earnings into the black. Net income was 10.1 million euros ($11.5 million) in the three months ended Sept. 30, compared with a loss of 7.7 million euros a year earlier. Due to the reduced ad spending, revenue fell 12 per cent.