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Trip.com Group Limited Reports Unaudited Third Quarter of 2024 Financial Results
TCOMTRIP.COM(TCOM) Prnewswire·2024-11-18 22:00

Core Insights - Trip.com Group Limited reported strong financial results for Q3 2024, with net revenue increasing by 16% year-over-year to RMB15.9 billion (US2.3billion)[2][3]−Thecompanyexperiencedrobustgrowthininternationalbusinesses,withoutboundhotelandairreservationsreachingapproximately1202.3 billion) [2][3] - The company experienced robust growth in international businesses, with outbound hotel and air reservations reaching approximately 120% of pre-COVID levels from 2019 [2][3] - The travel industry is expected to continue its growth trajectory, driven by increasing consumer confidence and advancements in AI technology [2] Financial Performance - Net income for Q3 2024 was RMB6.8 billion (US970 million), up from RMB4.6 billion in Q3 2023 [3] - Adjusted EBITDA for the quarter was RMB5.7 billion (US808million),anincreasefromRMB4.6billioninthesameperiodlastyear[3]−Accommodationreservationrevenueroseby22808 million), an increase from RMB4.6 billion in the same period last year [3] - Accommodation reservation revenue rose by 22% year-over-year to RMB6.8 billion (US969 million), while transportation ticketing revenue increased by 5% to RMB5.7 billion (US805million)[3]RevenueBreakdown−Packaged−tourrevenuegrewby17805 million) [3] Revenue Breakdown - Packaged-tour revenue grew by 17% year-over-year to RMB1.6 billion (US222 million) [3] - Corporate travel revenue increased by 11% to RMB656 million (US93million)[3]−ThecostofrevenueforQ32024wasRMB2.8billion(US93 million) [3] - The cost of revenue for Q3 2024 was RMB2.8 billion (US399 million), reflecting a 13% increase from the previous year [3] Operational Highlights - The company noted a significant increase in accommodation reservations, with a 32% rise from the previous quarter [3] - Sales and marketing expenses rose by 23% year-over-year to RMB3.4 billion (US482million),drivenbypromotionalactivities[3]−AsofSeptember30,2024,thecompanyhadcashandcashequivalentstotalingRMB86.9billion(US482 million), driven by promotional activities [3] - As of September 30, 2024, the company had cash and cash equivalents totaling RMB86.9 billion (US12.4 billion) [3]