TRIP.COM(09961)2024-11-18 22:04Financial Performance - In Q3 2024, Trip.com Group reported a net revenue of RMB 15.9 billion (USD 2.3 billion), representing a 16% year-over-year increase, driven by strong travel demand[8]. - The company's net profit for Q3 2024 was RMB 6.8 billion (USD 970 million), compared to RMB 4.6 billion in the same period of 2023, marking a significant increase[11]. - Adjusted EBITDA for Q3 2024 was RMB 5.7 billion (USD 880 million), up from RMB 4.6 billion in Q3 2023[11]. - The revenue from accommodation bookings was RMB 6.8 billion (USD 969 million), a 22% increase year-over-year, while transportation ticketing revenue was RMB 5.7 billion (USD 850 million), up 5% year-over-year[8]. - Total revenue for the three months ended September 30, 2023, was RMB 13,751 million, a decrease of 5.5% compared to RMB 14,556 million for the same period in 2022[26]. - Net income attributable to Trip.com Group Limited for the three months ended September 30, 2023, was RMB 4,615 million, representing a 20.5% increase from RMB 3,833 million in the same period of the previous year[31]. - The gross profit for the three months ended September 30, 2023, was RMB 11,273 million, with a gross margin of approximately 82%[26]. - Adjusted EBITDA for the three months ended September 30, 2023, was RMB 4,622 million, with an adjusted EBITDA margin of 34%[39]. - The company reported a basic earnings per share of RMB 7.05 for the three months ended September 30, 2023, compared to RMB 5.84 for the same period in 2022, reflecting a year-over-year increase of 20.7%[32]. - The company expects total revenue for the three months ending June 30, 2024, to be approximately RMB 12,788 million, indicating a projected growth of 6.5% compared to the same period in 2023[26]. Operational Highlights - Hotel and flight bookings on the international OTA platform grew by over 60% year-over-year, with outbound hotel and flight bookings fully recovering to 120% of pre-pandemic levels[5][6]. - Research and development expenses for Q3 2024 were RMB 3.6 billion (USD 519 million), a 2% increase year-over-year, reflecting rising costs associated with R&D personnel[9]. - Sales and marketing expenses rose to RMB 3.4 billion (USD 482 million), a 23% increase year-over-year, due to higher costs related to sales and marketing activities[9]. - Research and development expenses for the three months ended September 30, 2023, were RMB 3,577 million, an increase of 19.5% from RMB 2,993 million in the same period of the previous year[26]. - The company reported a significant increase in user data, with a total of 5,589 million in accommodation bookings for the three months ended September 30, 2023[26]. - Trip.com Group Limited is focusing on market expansion and new product development to enhance its competitive position in the travel industry[26]. Financial Position - As of September 30, 2024, the company had cash and cash equivalents totaling RMB 86.9 billion (USD 12.4 billion)[12]. - Ctrip Group reported a total asset increase from RMB 219,137 million as of December 31, 2023, to RMB 244,300 million by September 30, 2024, representing an increase of approximately 11.5%[22]. - The company's cash and cash equivalents decreased from RMB 43,983 million to RMB 41,982 million, a decline of about 4.5%[22]. - Total liabilities rose from RMB 96,131 million to RMB 104,173 million, indicating an increase of approximately 8.5%[24]. - Shareholders' equity increased from RMB 122,184 million to RMB 138,410 million, reflecting a growth of around 13.3%[24]. Strategic Outlook - The company expressed optimism about the continued growth of the travel industry, driven by consumer confidence and a surge in travel enthusiasm[7]. - Trip.com Group is committed to leveraging AI technology as a core driver for shaping the future of the global travel industry[7]. - Ctrip Group's mission is to provide a comprehensive travel platform for both Chinese tourists and international travelers, emphasizing high-quality travel experiences[20]. - The company operates under several brands, including Ctrip, Qunar, Trip.com, and Skyscanner, aiming to inspire travel exploration and support users throughout their journeys[20]. - Ctrip Group's reliance on partnerships with suppliers and competitors poses risks, particularly in managing growth rates and strategic investments[19]. - The company has faced challenges related to economic fluctuations and regulatory dynamics affecting its operations in various jurisdictions[19]. - Ctrip Group's financial data includes non-GAAP measures to provide a clearer picture of its operational performance, although these measures may not align with other companies' non-GAAP data[19].