Trip.com Group Limited shares climbed 1.5% in extended trading Monday after the company topped earnings expectations with its third-quarter results.
The Shanghai-based travel services company posted earnings of $1 per share, well ahead of the $0.68 per share expected by analysts. Revenue was $1.88 billion, short of the $1.92 billion Street analysts called for.
Trip.com said domestic hotel bookings grew more than 90% year over year and 70% compared to the pre-COVID level for the same period in 2019. Total bookings on its global platform doubled year over year.
"Throughout the third quarter of 2023, both domestic and international travel experienced a remarkable rebound, thanks to the robust summer travel demands," chairman James Liang said in a statement.
"Looking ahead, we will continue our efforts in expanding our global presence and cultivating AI-related initiatives, laying the foundation for continued growth of our company,” he added.
Ahead of its earnings, Trip.com shares gained 3.4% during the Monday session.
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