Shares in Trip.com Group (NASDAQ: TCOM) jumped in premarket trading Tuesday after the travel service provider reported better-than-expected results for the second quarter of fiscal 2024.
The company posted Q2 earnings per share (EPS) of RMB7.25, topping the analyst estimate of RMB5.23. Revenue for the quarter stood at RMB12.79 billion, slightly above the consensus estimate of RMB12.76 billion.
TCOM’s US-listed shares popped more than 9% in the premarket trade.
Accommodation reservation revenue totaled RMB5.14 billion, marking a 20% year-over-year increase, and above the estimated RMB4.95 billion.
Transportation ticketing revenue came in at RMB4.87 billion, up 1.2% year-over-year, but slightly below the estimate of RMB4.97 billion, while Packaged-tour revenue was reported at RMB1.03 billion, representing a 42% year-over-year increase, and in line with the consensus projection of RMB1.02 billion.
"The second quarter of 2024 witnessed continued growth driven by strong travel demand, especially 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 leveraging the potential of AI to revolutionize the travel industry and provide exceptional value to our customers."