US-listed shares of Trip.com rise after Q2 results

Trip.com

27/08/2024 11:37

** U.S.-listed shares of travel service provider Trip.com
 9961.HK   TCOM.O  rise 8.6% to $45.99 premarket
    ** Its Q2 net income rose to $535 mln from $91 mln a year
ago 
    ** On an adjusted basis, the company reported a profit of
$1/shr vs $0.70/shr a year earlier  
    ** "Accommodation bookings on the company's Chinese sites
grew by approximately 20% year over year, primarily driven by
robust growth in both outbound and domestic travel" - TCOM
    ** "We are pleased with ... the resilience of travel
consumption in China," said CEO Jane Sun
    ** Out of 30 brokerages covering the stock, 29 rate it "buy"
or higher; their median PT is $65 - LSEG
    ** YTD, TCOM up 17.6% vs 15% fall in shares of peer Airbnb
 ABNB.O    

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.parmar@thomsonreuters.com))