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Trip.com Group shares climbed more than 3% on Wednesday after the Chinese travel platform reported stronger-than-expected second-quarter adjusted earnings and revenue, despite recording a net loss linked to a major anti-monopoly penalty.
Trip.com shares rose 3.15% to HK$321.00 in late trading, outperforming the Hang Seng Index, which slipped 0.09%.
Second-quarter revenue reached RMB15.66 billion, up 6% from a year earlier and slightly above the RMB15.56 billion Visible Alpha consensus estimate. Adjusted earnings delivered a larger surprise, with non-GAAP diluted earnings of RMB7.27 per share, roughly 28% above analysts’ estimate of RMB5.67.
Non-GAAP net income attributable to shareholders totaled RMB4.8 billion, compared with RMB5 billion in the same period last year and RMB3.9 billion in the first quarter.
However, Trip.com reported a GAAP net loss of RMB2.4 billion, reversing a RMB4.9 billion profit a year earlier. The company attributed the decline primarily to a RMB5.2 billion anti-monopoly penalty imposed by China’s State Administration for Market Regulation. Excluding the penalty, Trip.com said net income would have reached RMB2.7 billion.
International operations remained a key growth driver. Revenue from Trip.com’s international platform surged more than 50% year over year, while inbound travel revenue increased at a high double-digit rate, highlighting continued demand for cross-border travel services.
Among individual business segments, accommodation reservation revenue rose 6% year over year to RMB6.6 billion. Packaged-tour revenue increased 8% to RMB1.2 billion, while corporate travel revenue advanced 11% to RMB771 million.
Transportation ticketing was the main weak spot, with revenue falling 1% from a year earlier to RMB5.4 billion and dropping 12% from the previous quarter. Trip.com cited elevated energy prices and geopolitical volatility as pressures on the segment.
The stronger-than-expected adjusted earnings and continued international expansion helped support Trip.com shares despite the regulatory penalty and weaker transportation ticketing performance.
