Trip.com Group (NASDAQ:TCOM), a leading global travel service provider, has announced its unaudited financial results for the second quarter.
The company reported a robust net revenue of RMB12.8 billion (US$1.8 billion) for the second quarter, marking a 14% increase compared to the same period in 2023.
A significant contributor to this growth was the accommodation reservation sector, which generated RMB5.1 billion (US$707 million) in revenue, reflecting a 20% year-over-year increase.
Trip.com Group also reported a substantial improvement in profitability.
Net income for the second quarter surged to RMB3.9 billion (US$535 million), a sharp increase from the RMB648 million recorded in the same quarter last year.
Additionally, the company's diluted earnings per ordinary share and per ADS reached RMB5.57 (US$0.77).
Meanwhile, the company's adjusted EBITDA for the second quarter was RMB4.4 billion (US$611 million), with an improved margin of 35%, up from 33% in the previous year.
As of June 30, 2024, the company's financial health remained strong, with a balance of cash and cash equivalents, restricted cash, short-term investments, and other financial products totalling RMB99 billion (US$13.6 billion)