Trip.com Group Limited Reports Unaudited Fourth Quarter and Full Year of 2024 Financial Results

Core Insights - Trip.com Group Limited reported strong financial results for the fourth quarter and full year of 2024, highlighting resilience in the travel market driven by increased traveler demand for exploration and cultural experiences [2][21] - The company is focused on investing in AI and promoting inbound travel to enhance the overall travel experience and expects continued growth in the industry [2] Financial Performance - For Q4 2024, net revenue was RMB12.7 billion (US$1.7 billion), a 23$7.3 billion), marking a 20% increase from 2023 [4] - Q4 2024 net income was RMB2.2 billion (US$300 million), up from RMB1.3 billion in Q4 2023 [22][23] - Full year 2024 net income attributable to shareholders was RMB17.1 billion (US$2.3 billion), compared to RMB9.9 billion in 2023 [24] Revenue Breakdown - Accommodation reservation revenue for Q4 2024 was RMB5.2 billion (US$709 million), a 33$655 million), a 16% increase from the same period in 2023 [6] - Packaged-tour revenue for Q4 2024 was RMB870 million (US$119 million), a 24$96 million), an 11% increase from Q4 2023 [9] Cost and Expenses - Cost of revenue for Q4 2024 increased by 31% to RMB2.6 billion (US$362 million) compared to Q4 2023 [11] - Product development expenses for Q4 2024 rose by 16$465 million) [13] - Sales and marketing expenses for Q4 2024 increased by 45% to RMB3.4 billion (US$462 million) [15] - General and administrative expenses for Q4 2024 increased by 19$142 million) [17] Cash and Capital Return - As of December 31, 2024, the company had cash and cash equivalents totaling RMB90.0 billion (US$12.3 billion) [27] - The board of directors authorized a share repurchase program of up to US$400 million and a cash dividend of approximately US$200 million for the financial year 2024 [28]