zacks.com·2024-05-21 17:26Core Insights - Trip.com Group Limited (TCOM) reported strong first-quarter 2024 results, with earnings and revenues exceeding expectations and showing year-over-year growth [1][2] - The growth is attributed to increased domestic and outbound travel demand in China, supported by stabilized supply and relaxed visa requirements [1] - The company is optimistic about investments in product and technology innovations to enhance user travel experiences [1] Financial Performance - Adjusted earnings per share (EPS) reached 83 cents, surpassing the Zacks Consensus Estimate of 62 cents by 33.9%, compared to 45 cents in the prior-year quarter [2] - Net revenues totaled $1.65 billion, exceeding the consensus mark of $1.61 billion by 2.3%, and up from $1.34 billion in the prior-year quarter [2] - Revenue growth was driven by accommodation reservations (29% increase), transportation ticketing (20% increase), packaged tours (129% increase), and corporate travel (15% increase) [2] - Adjusted EBITDA was $550 million, reflecting a 42.9% year-over-year increase, with an adjusted EBITDA margin expanding by 200 basis points to 33% [2] Balance Sheet - As of March 31, 2024, the company had total cash and cash equivalents, restricted cash, short-term investments, and held-to-maturity deposits amounting to $11.3 billion, an increase from $10.9 billion as of December 31, 2023 [3]