Trip.com Group (NASDAQ:TCOM), a leading global travel service provider, has announced robust financial results for the fourth quarter and full year of 2024, highlighting significant growth in its international segments.
The company reported a net revenue of RMB12.7 billion (US$1.7 billion) for the fourth quarter, a 23% increase compared to the same period in 2023.
Net income for the quarter reached RMB2.2 billion (US$300 million), up from RMB1.3 billion in the previous year.
Adjusted EBITDA also saw an improvement, reaching RMB3 billion (US$408 million).
A key driver of this strong performance was the resurgence of international travel.
Trip.com Group reported that outbound hotel and air ticket bookings have surpassed pre-COVID levels, reaching over 120% of the figures recorded in the same period in 2019.
Furthermore, air ticket and hotel bookings on its international OTA platform surged by over 70% year-over-year.
Inbound travel bookings also saw a remarkable increase, exceeding 100% compared to the previous year.
For the full year of 2024, Trip.com Group reported a 20% increase in net revenue, totaling RMB53.3 billion (US$7.3 billion).
In a move aimed at enhancing shareholder value, the company announced a share repurchase program of up to US$400 million and a cash dividend of US$200 million for the fiscal year 2024.