Trip.com Group Limited reports news as a global online travel platform providing accommodation reservations, transportation ticketing, packaged tours, and corporate travel management. Its updates commonly cover quarterly and annual financial results, booking trends across domestic and international travel, inbound and outbound travel demand, and activity across brands including Ctrip, Qunar, Trip.com, and Skyscanner.
Company news also includes Form 20-F annual report announcements, HKEX-related reporting, conference-call notices, and regulatory matters affecting its travel platform operations, including the PRC Anti-Monopoly Law investigation disclosed by the company.
Trip.com Group (Nasdaq: TCOM; HKEX: 9961) reported its unaudited financial results for Q1 2024, highlighting significant growth in both domestic and international markets. Key performance indicators include a 29% year-over-year increase in net revenue to RMB11.9 billion (US$1.6 billion) and a net income of RMB4.3 billion (US$599 million), up from RMB3.4 billion in Q1 2023. Adjusted EBITDA saw a 43% rise to RMB4.0 billion (US$550 million) with an improved margin of 33%. Notably, outbound hotel and air bookings surged over 100% year over year.
Accommodation reservation revenue increased by 29% to RMB4.5 billion (US$623 million), and transportation ticketing revenue rose 20% to RMB5.0 billion (US$692 million). Packaged-tour revenue grew by 129% to RMB883 million (US$122 million), while corporate travel revenue increased by 15% to RMB511 million (US$71 million). However, corporate travel revenue decreased by 19% from the previous quarter due to seasonality.
The company ended the quarter with RMB81.9 billion (US$11.3 billion) in cash and equivalents. Expenses rose across the board with cost of revenue increasing by 37%, product development by 16%, sales and marketing by 32%, and general and administrative expenses by 4% compared to Q1 2023.
Trip.com Group (Nasdaq: TCOM; HKEX: 9961) will announce its financial results for the first quarter of 2024 on May 20, 2024. The management team will host a conference call to discuss the results. Participants can register in advance to join the call.
Trip.com Group filed its 2023 Annual Report on Form 20-F, including audited financial statements for the three years ended December 31, 2023. The report was submitted to the Securities and Exchange Commission on April 29, 2024. Interested parties can access the report on the Company's investor relations website.
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