Trip.com shares rise as Q2 print beats Investing.com estimates

Shares of Trip.com Group (NASDAQ: TCOM ) rose in premarket trading on Tuesday after the travel services provider reported better-than-expected results for the second quarter of fiscal 2024.

The company posted Q2 earnings per share (EPS) of RMB 7.25, beating the analyst estimate of RMB 5.23. Revenue for the quarter was RMB 12.79 billion, slightly above the consensus estimate of RMB 12.76 billion.

Shares of US-listed TCOM rose more than 9% in premarket trade.

Accommodation booking revenue totaled RMB 5.14 billion, up 20% year-on-year, and above the forecast of RMB 4.95 billion.

Transportation ticket revenue was RMB 4.87 billion, up 1.2% year-on-year but slightly below the estimate of RMB 4.97 billion, while package tour revenue was reported at 1.03 billion RMB, representing a 42% year-over-year increase and in line with the consensus projection of RMB 1.02 billion.

“The second quarter of 2024 saw continued growth, driven by strong travel demand, particularly for cross-border travel,” said James Liang, executive chairman.

“Our strong performance highlights our adaptability in a dynamic market. Looking ahead, we are dedicated to harnessing the potential of AI to revolutionize the travel industry and deliver exceptional value to our customers.”