BRIEF：Trip.com profit leaps on travel rebound

9961.HK TCOM.US

Online travel agent Trip.com Group Ltd. (9961.HK, TCOM.US) reported its net profit jumped by five times year-on-year to 3.83 billion yuan ($5.38 million) in the second quarter, while its revenue increased 14% to nearly 12.8 billion yuan. It attributed the gains mainly to strong travel demand during the holidays in China.

The company’s revenue rose by an even stronger 20.7% to 24.7 billion yuan in the first half of the year, while its profit for the period doubled to 8.15 billion yuan. The company said it believes that China’s tourism consumption demand is still strong and it is confident that it will continue posting strong results in the future.

By Lau Chi Hang

To subscribe to Bamboo Works free weekly newsletter, click here

, ,
, , ,

Related Articles

RELATED ARTICLES

  1. What lurks beneath Trip.com's results surge
    ‘Revenge travel’ slowdown puts damper on Trip.com’s banner year
    9961.HK
  2. Huoli rides China travel boom to Hong Kong IPO
  3. A Travel IPO and a Plan to Export Used Chinese Cars
  4. BRIEF: Atour posts strong revenue, profit gains as travel rebound slows
    ATAT.US
  5. Shengwei faces long road to profit with ride-hailing losses 
  6. Atour relies on network expansion to counter economic slowdown
  7. Yunji rides robotics wave to Hong Kong IPO with A-list of backers
Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

New Oriental provides education services

New Oriental gets new lesson from souring U.S.-China relations

China’s leading private provider of education services blamed changing international relations for a slowdown in its business catering to students planning to study abroad Key Takeaways: New Oriental’s revenue from…
9901.HK EDU.US

BRIEF: Breton launches $30 million Hong Kong IPO

Construction machinery maker Breton Technology Co. Ltd. (1333.HK) launched its Hong Kong public offering Friday, announcing plans to sell 13 million shares for HK$18 apiece to raise HK$234 million ($30…
1333.HK

BRIEF: Tianqi Lithium returns to profit in first quarter

Lithium miner  Tianqi Lithium Corp. （9696.HK; 002466.SZ）announced on Wednesday it expects to report a net profit of between 82 million yuan（$11.24 million）and 123 million yuan for the three months through March,…
9696.HK