Financial Data and Key Metrics - Net revenue for Q2 2024 was RMB12.8 billion, a 14% YoY increase and a 7% QoQ increase, driven by strong recovery in the travel market [23] - Adjusted EBITDA margin for Q2 was 35%, up from 33% in the same period last year [25] - Diluted earnings per ordinary share and per ADS were RMB5.57 ($0.77) for Q2 2024, with non-GAAP diluted earnings per share at RMB7.25 ($1) [25] - Cash and cash equivalents, restricted cash, short-term investments, and financial products totaled RMB99.0 billion ($13.6 billion) as of June 30, 2024 [26] Business Line Data and Key Metrics - Accommodation reservation revenue grew 20% YoY to RMB5.1 billion, with outbound hotel bookings fully recovering to 2019 levels [23] - Transportation ticketing revenue increased 1% YoY to RMB4.9 billion, with outbound air ticket bookings also fully recovering to 2019 levels [23] - Package tour revenue surged 42% YoY to RMB1.0 billion, driven by strong growth in outbound package tours [24] - Corporate travel revenue rose 8% YoY to RMB633 million, supported by increased adoption of managed corporate travel services [24] Market Data and Key Metrics - Outbound travel bookings recovered to 100% of 2019 levels, outperforming the industry average by 20%-30% [13] - APAC destinations like Japan, Thailand, and Malaysia saw strong resurgence, with long-haul destinations such as France and Europe experiencing over 100% YoY growth in summer travel [13][14] - Inbound travel to China surged 150% YoY, with visa-free country visitors increasing by 190% [8] - International OTA platform revenue grew 70%, with APAC revenue increasing 76% YoY [16] Company Strategy and Industry Competition - The company is leveraging AI to enhance user experience, with tools like Trip.Best, TripTrends, and TripGenie providing personalized recommendations and real-time insights [9][10][30] - Mobile-first strategy continues to drive growth, with 65% of international OTA transactions and 75% in Asia conducted via mobile platforms [16] - The company is collaborating with 27 cities and 22 local airports to boost regional tourism and connectivity [15] - Sustainability initiatives, such as promoting electric vehicle rentals and solar panel installations, have improved the company's MSCI rating from BB to A [21] Management Commentary on Operating Environment and Future Outlook - Travel demand remains resilient, with strong interest in both domestic and international travel [12][13] - The company expects travel activities in H2 2024 to follow normal seasonal patterns, with favorable YoY comparisons post-National Day holiday [37] - AI is seen as a transformative force in the travel industry, with potential to revolutionize user experiences and operational efficiency [11][30] Other Important Information - The company launched the Old Friends Club for senior travelers, generating over RMB1.6 billion in spending year-to-date [18] - Entertainment-plus-travel products saw a 70% YoY increase in GMV, reflecting strong demand from younger travelers [20] - The company introduced a Family Card feature to assist elderly travelers with trip planning, catering to the evolving preferences of the silver generation [19] Q&A Session Summary Question: Why did the company use digital humans for the earnings call? - The use of digital humans underscores the company's commitment to innovation and highlights the potential of AI in transforming communication and user engagement [29] Question: How is travel demand holding up amid China's consumption slowdown? - GMV per traveler remains consistent, with strong interest in both domestic and international travel, indicating resilient travel demand [33] Question: What are the summer travel booking trends and H2 outlook? - Outbound travel bookings exceeded 2019 levels by 110%-120%, with domestic hotel reservations showing double-digit YoY growth [36] - The company expects normal seasonal patterns in H2, with robust growth in global markets [37] Question: What is the domestic ADR trend and its impact on business? - Domestic ADR and airfares decreased YoY but improved sequentially, with increased supply and outbound travel drawing mid-to-high-end travelers [40] - ADR pressure is expected to ease in Q4, with long-term benefits from supply expansion [41] Question: How is outbound travel recovering, and what are the pricing trends? - Outbound flight capacity recovered to nearly 80% of 2019 levels, with airfares 5%-10% above pre-COVID levels [45] Question: What are the key drivers of Trip.com's Q2 performance and margin trends? - Trip.com achieved 70% revenue growth, with APAC contributing over 70% of total revenue [48] - Margins are expected to follow seasonal patterns, with Q3 typically being the strongest [56] Question: How does the company differentiate itself in international markets? - The company offers one-stop travel services through its mobile app, focusing on product innovation and service quality to enhance user experience [52][53] Question: What are the company's AI initiatives and their business impact? - AI tools like Trip.Best, TripTrends, and TripGenie drive consumer awareness, improve trip planning, and enhance operational efficiency [59][60] Question: What are the opportunities in China's inbound travel market? - Inbound travel to China represents a significant opportunity, with bookings growing 200% YoY and contributing over 25% to Trip.com's revenue [64] Question: What is the company's M&A strategy and capital return policy? - The company prioritizes organic growth and synergies among existing brands, with a focus on sustainable competitive advantages [67] - Capital allocation focuses on growth investments, disciplined cost management, and consistent shareholder returns through dividends or buybacks [68]

Revenue Growth - Net revenue for Q2 2024 increased by 14% YoY to RMB12.8 billion (US$1.8 billion)[1] - Accommodation reservation revenue grew 20% YoY to RMB5.1 billion (US$707 million) in Q2 2024[1] - Transportation ticketing revenue increased 1% YoY to RMB4.9 billion (US$670 million) in Q2 2024[1] - Packaged-tour revenue surged 42% YoY to RMB1.0 billion (US$141 million) in Q2 2024[2] - Revenue from accommodation reservation grew from RMB 4,285 million in June 2023 to RMB 5,136 million in June 2024, a 19.9% increase[7] Net Income and Profitability - Net income for Q2 2024 was RMB3.9 billion (US$535 million), compared to RMB648 million in Q2 2023[2] - Net income attributable to Trip.com Group Limited rose from RMB 631 million in June 2023 to RMB 3,833 million in June 2024, a 507.1% surge[8] - Non-GAAP diluted earnings per ADS for Q2 2024 was RMB7.25 (US$1.00)[3] - Non-GAAP net income attributable to Trip.com Group Limited increased from RMB 3,434 million in June 2023 to RMB 4,985 million in June 2024, a 45.2% growth[9] - Earnings per ADS (Basic) rose from RMB 0.97 in June 2023 to RMB 5.84 in June 2024, a 502.1% increase[8] Adjusted EBITDA and Margins - Adjusted EBITDA for Q2 2024 was RMB4.4 billion (US$611 million), with a margin of 35%[2] - Adjusted EBITDA margin improved from 33% in June 2023 to 35% in June 2024[9] - Adjusted EBITDA increased from RMB 3,678 million in June 2023 to RMB 4,436 million in June 2024, a 20.6% growth[9] Financial Position and Assets - Total assets increased from RMB 219,137 million in December 2023 to RMB 247,823 million in June 2024, a growth of 13.1%[6] - Cash, cash equivalents, and restricted cash increased from RMB 43,983 million in December 2023 to RMB 51,553 million in June 2024, a 17.2% rise[6] - Short-term investments nearly doubled from RMB 17,748 million in December 2023 to RMB 38,216 million in June 2024, a 115.3% increase[6] - Total current liabilities grew from RMB 72,411 million in December 2023 to RMB 92,116 million in June 2024, a 27.2% rise[6] Operational Recovery and Expenses - Domestic and international hotel reservations recovered to 100% of pre-COVID levels in Q2 2024[1] - Sales and marketing expenses increased 20% YoY to RMB2.8 billion (US$390 million) in Q2 2024[2] Capital Market Activities - The company completed a US$1.5 billion convertible senior notes offering in June 2024[3]

SINGAPORE, Aug. 26, 2024 /PRNewswire/ -- Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) ("Trip.com Group" or the "Company"), a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management, today announced its unaudited financial results for the second quarter and first half of 2024.Key Highlights for the Second Quarter of 2024Domestic and international businesses sustained growth across all segments in the second quarter ...

Trip.com Group Limited TCOM is expected to release earnings results for its second quarter, after the closing bell on Monday, Aug. 26.Analysts expect the Singapore-based company to report quarterly earnings at 74 cents per share, up from 71 cents per share in the year-ago period. Trip.com Group is projected to report quarterly revenue of $1.79 billion, according to data from Benzinga Pro.On June 4, Trip.com priced offering of $1.3 billion cash-par settled convertible senior notes due 2029.Trip.com Group sha ...

In the latest market close, Trip.com (TCOM) reached $42.60, with a -0.91% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.89%. Elsewhere, the Dow lost 0.44%, while the tech-heavy Nasdaq lost 1.67%.Heading into today, shares of the travel services company had lost 5.06% over the past month, lagging the Consumer Discretionary sector's gain of 2.07% and the S&P 500's gain of 2.17% in that time.The investment community will be closely monitoring the performa ...

The market expects Trip.com (TCOM) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on A ...

The latest trading session saw Trip.com (TCOM) ending at $42.01, denoting a +1.45% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 1.61%. Meanwhile, the Dow gained 1.39%, and the Nasdaq, a tech-heavy index, added 2.34%.The travel services company's stock has dropped by 10.79% in the past month, falling short of the Consumer Discretionary sector's loss of 2.85% and the S&P 500's loss of 2.88%.Investors will be eagerly watching for the performance of Trip.com in its upcoming ...

SINGAPORE, Aug. 14, 2024 /PRNewswire/ -- Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961), a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management, will announce its financial results for the three months and six months ended June 30, 2024 on Monday, August 26, 2024, U.S. Time.Trip.com Group's management team will host a conference call at 8:00 PM U.S. Eastern Time on August 26, 2024 (or 8:00 AM on August 27, 2024 in ...

In the latest market close, Trip.com (TCOM) reached $41.87, with a -0.92% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.47%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.51%.Coming into today, shares of the travel services company had lost 14.26% in the past month. In that same time, the Consumer Discretionary sector lost 2.38%, while the S&P 500 lost 4.45%.Investors will be eagerly watching for the performance of Trip.com in its upcomin ...

Investment Rating - The report assigns a "Buy" rating to Trip com Group (TCOM) with a target price of $54 62, representing a 25 8% upside from the current price of $43 43 [1][5] Core Views - Trip com Group is the leader in China's online travel market and is expanding globally through strategic acquisitions and technological innovation [1][14] - The company has demonstrated strong resilience and recovery post-pandemic, with 2023 revenue and non-GAAP net profit surpassing pre-pandemic levels [60][61] - Trip com Group's international business has become a significant growth driver, with overseas revenue accounting for 13 2% of total revenue in 2023, up from 9 5% in 2018 [77] Business Overview Domestic Market Leadership - Trip com Group dominates China's OTA market with a strong presence in high-end hotels and a comprehensive supply chain network [21][27] - The company has a healthy user base, with 87% of users being middle to high-income consumers and 66% aged between 80s and 90s [34][38] International Expansion - Trip com Group has accelerated its global expansion through acquisitions like Skyscanner and Trip com, establishing a strong presence in Asia, Europe, and North America [14][78] - The company's international revenue reached RMB 5 89 billion in 2023, nearly doubling from 2018 levels [77] Financial Performance - Trip com Group's 2023 revenue reached RMB 44 56 billion, a 122 2% YoY increase, with non-GAAP net profit of RMB 13 07 billion, up 910 1% YoY [6] - The company's 2024-2026 revenue is forecasted to grow at a CAGR of 15 6%, with non-GAAP net profit expected to reach RMB 20 36 billion by 2026 [6] Growth Drivers Domestic Market - Trip com Group benefits from China's post-pandemic travel recovery, with domestic travel demand remaining strong [63][65] - The company's focus on high-end hotels and cross-selling opportunities between transportation and accommodation services drives revenue growth [24][26] International Market - Trip com Group's overseas platforms, Trip com and Skyscanner, are key growth engines, with Trip com's revenue contribution expected to exceed 10% in 2024 [87] - The company's differentiated strategy in Asia and non-confrontational approach in欧美 markets have helped it gain market share [85][86] Industry Outlook - China's tourism industry is expected to maintain steady growth, with online penetration rates continuing to rise, benefiting leading OTA platforms like Trip com Group [55] - The global online travel market has surpassed pre-pandemic levels, with Trip com Group well-positioned to capture growth opportunities in both domestic and international markets [70][74] Strategic Initiatives - Trip com Group has invested heavily in technology, including AI and big data, to enhance user experience and operational efficiency [81] - The company's localized services and multi-language support have improved its competitiveness in international markets [81][82]