Trip.com reports strong Q4
The Chinese OTA beats earnings expectations on higher China hotel bookings and the post-pandemic recovery in air travel
Trip.com said ahead of trading that fourth-quarter sales more than doubled from a year earlier, helped by a 130% rise in China hotel reservations along with outbound hotel and air reservations that recovered to more than 80% of pre-Covid levels.
Key takeaways
- Net profit fell 37%, partly due to changes in investment valuations and share-based compensation charges, but still beat estimates;
- Income from operations swung to a profit from a loss a year ago;
- Citi analysts described the earnings as a "solid beat," with margin "likely ahead of investor expectations.
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