Daily reviews

02.12.2020

Trip.com returns to profit in the third quarter

Trip.com returns to profit in the third quarter

The firm has topped consensus revenue estimates four times over the last four quarters

Stocks impacted: Trip.com Group Limited (TCOM)

Trip.com reported third-quarter earnings that beat forecasts and revenue that topped expectations. The Shanghai-based company said third-quarter earnings came in at $234 million while net income arrived at 38 cents per share. The company also posted revenue of $805 million. This compares to year-ago revenues of $1.47 billion. The firm has topped consensus revenue estimates four times over the last four quarters. Net revenue for the third quarter of 2020 increased by 73% from the previous quarter. Accommodation reservation revenue saw a 40% decrease from the same period in 2019. Despite quarterly results were negatively impacted by the pandemic, Trip.com benefited from the containment of COVID-19 in China. A strong recovery in its domestic business has contributed to substantially all of its total revenue. Trip.com shares have climbed nearly 2.5% on Tuesday.

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