Trip.com Group Ltd. reported a sharp rise in third-quarter earnings on Tuesday, as a resurgence in cross-border travel and a sizable one-time investment gain propelled profit well above revenue, reports Caixin. For the three months ended Sept. 30, the online travel platform posted net revenue of RMB 18.3 billion ($2.65 billion), a 16% increase from a year earlier and a 24% rise from the previous quarter. The rebound was driven by summer holiday demand, the company said in its earnings release.
Net profit attributable to shareholders surged 193% year-on-year to RMB 19.9 billion, surpassing revenue due to a one-time gain from the divestment of an overseas investment. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 10.5% to RMB 6.3 billion.
The results underscore a vigorous rebound in China’s travel sector, particularly for international journeys. Relaxed visa policies and restored flight capacity have fueled demand, positioning the Nasdaq- and Hong Kong-listed company as a bellwether for the broader tourism market.