Trip.com's HK shares hit over 5-week peak on strong Q1, positive outlook

Trip.com

08/06/2023 03:01

** Hong Kong shares of China's Trip.com Group Ltd  9961.HK 
rise as much as 4.8% to HK$281.40, their highest since May 2
    ** Stock is the biggest pct gainer in Hang Seng Index
 .HSI , Hang Seng Tech Index  .HSTECH  and Hang Seng Commerce &
Industry Index  .HSNC 
    ** The Shanghai-based online travel services provider says
Q1 net revenue soared 124% YoY and net income was at 3.4 bln
yuan ($491 mln), versus a loss of 1 bln yuan in a year-ago
period and net income of 2.1 bln yuan in the previous quarter 
    ** "We remain positive for the outlook of the global travel
industry and the opportunities that lie ahead," says Executive
Chairman James Liang
    ** Jefferies says Trip.com's total revenue up 124% YoY to
9.2 bln yuan is ahead of the brokerage's estimate and consensus
    ** The Hang Seng Commerce & Industry Index  .HSNC  falls
1.2% and the Hang Seng Tech Index  .HSTECH  declines 1.4%
    ** The Hang Seng Composite Index  .HSCI  and the benchmark
Hang Seng Index  .HSI  slip 0.7% each
    ** As of last close, the Hong Kong-listed stock down 1.8%
this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))