Trip.com Group Ltd. Sponsored ADR ( (TCOM) ) has released its Q3 earnings. Here is a breakdown of the information Trip.com Group Ltd. Sponsored ADR presented to its investors.
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Trip.com Group Limited is a leading global travel service provider offering a comprehensive range of travel products and services. The company operates across various travel sectors, including accommodation reservations and transportation ticketing, through its portfolio of brands such as Ctrip, Qunar, Trip.com, and Skyscanner.
In the third quarter of 2024, Trip.com Group Limited reported significant growth in its international business segments, with outbound hotel and air reservations surpassing pre-COVID levels. The company’s net revenue witnessed a year-over-year increase of 16%, reflecting a strong recovery in travel demand.
Key financial highlights for Trip.com Group included a net income of RMB6.8 billion (US$970 million), up from RMB4.6 billion in the same period the previous year. The company’s adjusted EBITDA also rose to RMB5.7 billion (US$808 million), driven by increased accommodation and transportation ticketing revenues. The international OTA brand saw a remarkable 60% year-over-year growth in air ticket and hotel reservations.
The management of Trip.com Group remains optimistic about the future growth of the travel industry, bolstered by increasing consumer confidence and the potential of AI-driven technology. They are committed to enhancing their service offerings and continuing to drive business for their partners, with a focus on expanding their global reach and introducing China to international travelers.
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