Summary by Moomoo AI
Trip.com Group reported robust Q3 2024 results, with net revenue up 16% YoY to RMB15.9B ($2.3B). Net income surged 47% YoY to RMB6.8B ($970M), while adjusted EBITDA rose to RMB5.7B ($808M). International business saw strong growth, with outbound hotel and air reservations reaching 120% of pre-COVID levels.Accommodation reservation revenue increased 22% YoY to RMB6.8B, while transportation ticketing revenue grew 5% to RMB5.7B. Packaged-tour revenue rose 17% to RMB1.6B, and corporate travel revenue increased 11% to RMB656M. The company maintained strong profitability with an adjusted EBITDA margin of 36%.Trip.com's Executive Chairman, James Liang, expressed optimism about continued travel industry growth and the potential impact of AI on the sector. CEO Jane Sun emphasized the company's role in creating job opportunities and driving business for travel industry partners.
