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Trip.com Group (TCOM) Beats Q1 Earnings & Revenue Estimates
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Trip.com Group Limited (TCOM - Free Report) reported splendid first-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate and increasing on a year-over-year basis. The company surpassed its earnings estimates in each of the trailing four quarters.
The results reflect solid growth trend in the company’s domestic and outbound travel demand in China on the back of a stabilized supply and further relaxation of visa requirements. This resulted in increased accommodation reservations and global business growth.
The company is optimistic about effective investments in product and technology innovations, which will help deliver a superior travel experience to its users.
Inside the Headlines
The company recorded an adjusted earnings per share (EPS) of 83 cents, beating the Zacks Consensus Estimate of 62 cents by 33.9%. In the prior-year quarter, the company reported EPS of 45 cents.
Trip.com Group Limited Sponsored ADR Price, Consensus and EPS Surprise
Net revenues of $1.65 billion also topped the consensus mark of $1.61 billion by 2.3%. In the prior-year quarter, the company generated net revenues of $1.34 billion. The uptick in the top line was attributable to a seasonal trend, resulting in increased contributions from Trip.com Group’s reportable businesses.
The quarterly revenues from accommodation reservation, transportation ticketing, packaged-tour and corporate travel businesses grew year over year by 29%, 20%, 129% and 15%, respectively.
Adjusted EBITDA was $550 million, up 42.9% year over year. Adjusted EBITDA margin also expanded 200 basis points to 33% from the year-ago period.
Balance Sheet
As of Mar 31, 2024, Trip.com Group’s total of cash and cash equivalents, restricted cash, short-term investment, and held to maturity time deposit and financial products were $11.3 billion, up from $10.9 billion as of Dec 31, 2023.
Zacks Rank & Key Picks
Trip.com Group currently carries a Zacks Rank #4 (Sell).
STRA has a trailing four-quarter earnings surprise of 36.2%, on average. The stock has gained 47.9% in the past year. The Zacks Consensus Estimate for STRA’s 2024 sales and earnings per share (EPS) indicates an increase of 6.4% and 33.3%, respectively, from the year-ago levels.
Netflix, Inc. (NFLX - Free Report) presently sports a Zacks Rank of 1. NFLX has a trailing four-quarter earnings surprise of 9.3%, on average. The stock has gained 76.8% in the past year.
The consensus estimate for NFLX’s 2024 sales and EPS implies a rise of 14.8% and 52.2%, respectively, from the year-ago levels.
Royal Caribbean Cruises Ltd. (RCL - Free Report) currently sports a Zacks Rank of 1. RCL has a trailing four-quarter earnings surprise of 18.3%, on average. The stock has surged 84.8% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and EPS implies growth of 16.6% and 61.9%, respectively, from the year-ago levels.
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Trip.com Group (TCOM) Beats Q1 Earnings & Revenue Estimates
Trip.com Group Limited (TCOM - Free Report) reported splendid first-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate and increasing on a year-over-year basis. The company surpassed its earnings estimates in each of the trailing four quarters.
The results reflect solid growth trend in the company’s domestic and outbound travel demand in China on the back of a stabilized supply and further relaxation of visa requirements. This resulted in increased accommodation reservations and global business growth.
The company is optimistic about effective investments in product and technology innovations, which will help deliver a superior travel experience to its users.
Inside the Headlines
The company recorded an adjusted earnings per share (EPS) of 83 cents, beating the Zacks Consensus Estimate of 62 cents by 33.9%. In the prior-year quarter, the company reported EPS of 45 cents.
Trip.com Group Limited Sponsored ADR Price, Consensus and EPS Surprise
Trip.com Group Limited Sponsored ADR price-consensus-eps-surprise-chart | Trip.com Group Limited Sponsored ADR Quote
Net revenues of $1.65 billion also topped the consensus mark of $1.61 billion by 2.3%. In the prior-year quarter, the company generated net revenues of $1.34 billion. The uptick in the top line was attributable to a seasonal trend, resulting in increased contributions from Trip.com Group’s reportable businesses.
The quarterly revenues from accommodation reservation, transportation ticketing, packaged-tour and corporate travel businesses grew year over year by 29%, 20%, 129% and 15%, respectively.
Adjusted EBITDA was $550 million, up 42.9% year over year. Adjusted EBITDA margin also expanded 200 basis points to 33% from the year-ago period.
Balance Sheet
As of Mar 31, 2024, Trip.com Group’s total of cash and cash equivalents, restricted cash, short-term investment, and held to maturity time deposit and financial products were $11.3 billion, up from $10.9 billion as of Dec 31, 2023.
Zacks Rank & Key Picks
Trip.com Group currently carries a Zacks Rank #4 (Sell).
Here are some better-ranked stocks from the Consumer Discretionary sector.
Strategic Education, Inc. (STRA - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
STRA has a trailing four-quarter earnings surprise of 36.2%, on average. The stock has gained 47.9% in the past year. The Zacks Consensus Estimate for STRA’s 2024 sales and earnings per share (EPS) indicates an increase of 6.4% and 33.3%, respectively, from the year-ago levels.
Netflix, Inc. (NFLX - Free Report) presently sports a Zacks Rank of 1. NFLX has a trailing four-quarter earnings surprise of 9.3%, on average. The stock has gained 76.8% in the past year.
The consensus estimate for NFLX’s 2024 sales and EPS implies a rise of 14.8% and 52.2%, respectively, from the year-ago levels.
Royal Caribbean Cruises Ltd. (RCL - Free Report) currently sports a Zacks Rank of 1. RCL has a trailing four-quarter earnings surprise of 18.3%, on average. The stock has surged 84.8% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and EPS implies growth of 16.6% and 61.9%, respectively, from the year-ago levels.