Trip.com Group (NASDAQ:TCOM) announced its unaudited financial results for the first quarter of 2024, showcasing robust growth across domestic and international businesses.

With a significant increase in domestic and outbound travel demand, the company experienced over 20% year-over-year growth in domestic hotel and air bookings and over 100% increase in outbound hotel and air bookings.

The company's unaudited consolidated statements of income revealed a 29% increase in net revenue compared to the same period in 2023, reaching RMB11.9 billion ($1.6 billion).

Net income for the first quarter was reported at RMB4.3 billion ($599 million), marking an increase from RMB3.4 billion in the same period last year.

James Liang, Executive Chairman, attributed the positive performance to the "significant increase in both domestic and outbound travel demand in China," facilitated by a stabilized supply and further relaxation of visa requirements.

He highlighted the company's commitment to investing in product and technology innovations to improve the travel experience.