Trip.Com Stock Is Trading Lower Tuesday: What’s Going On? – Group (NASDAQ:TCOM)

Trip.Com Group Ltd TCOM shares are trading lower Tuesday after the company reported third-quarter financial results

What Happened: said third-quarter revenue increased 99% year-over-year to $1.89 billion. The company reported adjusted earnings per ADS of $1.00.

Total bookings on the company’s platform increased by more than 100% year-over-year. Domestic hotel bookings grew by over 90% on a year-over-year basis. Outbound hotel and air reservations recovered to around 80% of pre-Covid levels.

“Throughout the third quarter of 2023, both domestic and international travel experienced a remarkable rebound, thanks to the robust summer travel demands. This shows just how eager travelers are to explore the world,” said James Liang, executive chairman of

“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.” said it repurchased $120 million worth of its stock from September to Nov. 20. The company’s board also approved a regular capital return policy in the form of annual share repurchases and annual cash dividends. The new capital return program is set to commence in 2024. 

See Also: What’s Going On With Broadcom And VMware Shares Today?

TCOM Price Action: shares were down 5.51% at $34.65 at the time of writing, according to Benzinga Pro.

Photo: Pexels from Pixabay.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button