TRIP.COM(TCOM) - 2024 Q2 - Quarterly Results

Revenue Growth - Net revenue for Q2 2024 increased by 14% YoY to RMB12.8 billion (US $1.8 billion)[1] - Accommodation reservation revenue grew 20% YoY to RMB5.1 billion (US$ 707 million) in Q2 2024[1] - Transportation ticketing revenue increased 1% YoY to RMB4.9 billion (US $670 million) in Q2 2024[1] - Packaged-tour revenue surged 42% YoY to RMB1.0 billion (US$ 141 million) in Q2 2024[2] - Revenue from accommodation reservation grew from RMB 4,285 million in June 2023 to RMB 5,136 million in June 2024, a 19.9% increase[7] Net Income and Profitability - Net income for Q2 2024 was RMB3.9 billion (US $535 million), compared to RMB648 million in Q2 2023[2] - Net income attributable to Trip.com Group Limited rose from RMB 631 million in June 2023 to RMB 3,833 million in June 2024, a 507.1% surge[8] - Non-GAAP diluted earnings per ADS for Q2 2024 was RMB7.25 (US$ 1.00)[3] - Non-GAAP net income attributable to Trip.com Group Limited increased from RMB 3,434 million in June 2023 to RMB 4,985 million in June 2024, a 45.2% growth[9] - Earnings per ADS (Basic) rose from RMB 0.97 in June 2023 to RMB 5.84 in June 2024, a 502.1% increase[8] Adjusted EBITDA and Margins - Adjusted EBITDA for Q2 2024 was RMB4.4 billion (US $611 million), with a margin of 35%[2] - Adjusted EBITDA margin improved from 33% in June 2023 to 35% in June 2024[9] - Adjusted EBITDA increased from RMB 3,678 million in June 2023 to RMB 4,436 million in June 2024, a 20.6% growth[9] Financial Position and Assets - Total assets increased from RMB 219,137 million in December 2023 to RMB 247,823 million in June 2024, a growth of 13.1%[6] - Cash, cash equivalents, and restricted cash increased from RMB 43,983 million in December 2023 to RMB 51,553 million in June 2024, a 17.2% rise[6] - Short-term investments nearly doubled from RMB 17,748 million in December 2023 to RMB 38,216 million in June 2024, a 115.3% increase[6] - Total current liabilities grew from RMB 72,411 million in December 2023 to RMB 92,116 million in June 2024, a 27.2% rise[6] Operational Recovery and Expenses - Domestic and international hotel reservations recovered to 100% of pre-COVID levels in Q2 2024[1] - Sales and marketing expenses increased 20% YoY to RMB2.8 billion (US$ 390 million) in Q2 2024[2] Capital Market Activities - The company completed a US$1.5 billion convertible senior notes offering in June 2024[3]