Trip.com Group Limited Announces Third Quarter 2024 Financial Results
SINGAPORE, Nov. 18, 2024 /PRNewswire/ -- Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961), a preeminent one-stop travel service provider, has reported its unaudited financial results for the third quarter ending September 30, 2024.
Financial Metrics Overview
| Metric | Q3 2024 | Q3 2023 | Change (YoY) | Q2 2024 | Change (QoQ) |
|---|---|---|---|---|---|
| Net Revenue | RMB 15.9 billion (US$2.3 billion) | +16% | +24% | ||
| Net Income | RMB 6.8 billion (US$970 million) | RMB 4.6 billion | +48% | RMB 3.9 billion | +74% |
| Adjusted EBITDA | RMB 5.7 billion (US$808 million) | RMB 4.6 billion | +24% | RMB 4.4 billion | +30% |
| Diluted EPS | RMB 9.93 (US$1.42) |
The company demonstrated significant year-over-year and quarter-over-quarter growth in net revenue and net income, reflecting robust consumer demand in the travel sector. The increase in EBITDA further underscores operational efficiency and cost management.
Revenue Performance by Segment
| Segment | Q3 2024 | Q3 2023 | Change (YoY) | Q2 2024 | Change (QoQ) |
|---|---|---|---|---|---|
| Accommodation Reservation | RMB 6.8 billion (US$969 million) | +22% | +32% | ||
| Transportation Ticketing | RMB 5.7 billion (US$805 million) | +5% | +16% | ||
| Packaged-Tour | RMB 1.6 billion (US$222 million) | +17% | +52% | ||
| Corporate Travel | RMB 656 million (US$93 million) | +11% | +4% |
The company reported an impressive performance across its major segments, particularly in accommodation reservations and packaged tours, driven by increased travel demand and seasonal factors.
Key Developments
- International Growth : Outbound hotel and air reservations exceeded pre-COVID levels.
- Technological Advancements : Emphasis on AI-driven solutions to enhance travel services.
- Job Creation : Contribution to job opportunities and partnership expansion.
Executive Comments
James Liang, Executive Chairman, emphasized the optimistic growth trajectory fostered by increased travel sentiment. CEO Jane Sun highlighted the company's role in promoting global understanding and articulated plans to continue supporting the travel industry's economic contributions.
Stock Price Movement
- Following the earnings release, Trip.com Group's stock experienced a 3.08% increase.
Trip.com Group's robust financial performance for the third quarter of 2024 illustrates the successful recovery and strategic positioning in the global travel market, underscored by effective leadership and technological innovation.
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