Trip.com rises most in 5 weeks on quarterly revenue beat

Trip.com

19/11/2024 02:35

** Shares of travel platform operator Trip.com Group Ltd
 9961.HK  rise 6.5% to HK$509.5, their biggest intraday pct gain
since Oct 18
    ** Stock hits its highest since Nov 12, and on track for the
second session of gains 
    ** Trip.com  TCOM.OQ  reported quarterly adjusted earnings
of 8.75​ yuan​ per share for quarter ended in September, up from
7.26 yuan the same quarter last year and mean expectation of 15
analysts of 6.88 yuan, with revenue up 15.7% Y/Y
    ** Citi maintains "buy" rating on the stock, citing 3Q24
results are solid with revenue above expectations, driven by
better-than-expected transportation and other revenue, and
pointing to a potentially improving top-line outlook ahead
    ** Jefferies, with "buy" rating on the stock, says total
revenue in 3Q24 results ahead of consensus while operating
profit and non-GAAP earnings were ahead of expectations
    ** Hang Seng Commerce & Industry Index  .HSNC  adds 0.2%,
Hang Seng Consumption Index  .HSCGSI  rises 1.4% and Hang Seng
Index  .HSI  gains 0.3%
    ** Stock up 82.6% YTD  

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