Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of travel website operator TripAdvisor (NASDAQ:TRIP) soared 15% today after its quarterly results easily topped Wall Street expectations.

So what: The stock has soared over the past year on a string of market-beating quarters, and today's Q2 results -- earnings spiked 26% on a 7% revenue increase -- are forcing analysts to up their growth estimates yet again. While that top-line growth might seem tame for a highflier, revenue from cost-per-click advertising -- which accounts for 74% of TripAdvisor's business -- surged 21% during the quarter.   

Now what: In a conference call with analysts, management reaffirmed full-year guidance of revenue growth in the low-20's. "We are very pleased with the positive user feedback on our new Meta Display and have made great progress driving more clicks and helping partners better determine their bidding efficiencies," said CFO Julie Bradley on the call. Of course, with the stock now up a whopping 150% over its 52-week lows and trading at a forward P/E of 30, I'd wait for some of the excitement to fade before buying into that operating momentum.

Fool contributor Brian Pacampara has no position in any stocks mentioned. The Motley Fool recommends TripAdvisor. The Motley Fool owns shares of TripAdvisor. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.