Chinese travel website Trip.com (9961) saw its net profit in the third quarter surge by nearly 48 percent year-on-year to 6.8 billion yuan (HK$7.31 billion), thanks to robust domestic and international travel growth.
Third-quarter net revenue rose16 percent from the same period in 2023 to 15.9 billion yuan, primarily driven by stronger demand.
Besides, outbound hotel and air reservations on the platform, in the period, rebounded to approximately 120 percent of the pre-Covid level for the same period in 2019 and air ticket and hotel reservations on its international online travel agency brand increased by over 60 percent year-on-year.
Moreover, the accommodation reservation revenue for the third quarter was 6.8 billion yuan, representing a 22 percent increase from the same period in 2023.
"With increasing consumer confidence and heightened travel sentiment, we are optimistic about the continued growth of the travel industry," said Liang Jianzhang, the chairman of the company.
Trip.com's shares once rose by as much as 6.5 percent to HK$509.5 yesterday before closing 5.8 percent higher at HK$506.
In other news competitor Tongcheng Travel (0780) saw its net profit in the third quarter surge by 55 percent year-on-year to 793 million yuan in the third quarter, reaching a record high.
June Chen
