- Trip.com Group Ltd TCOM reports a Revenue down 32% in Q2 FY22 year-over-year to $598 million.
- Accommodation reservation revenue fell 45% to RMB1.4 billion (US$203 million), and transportation ticket revenue fell 15% to RMB1.8 billion (US$263 million). .
- Gross profit for the quarter fell 35% to RMB 3 billion (US$452 million) and gross margin shrank 360 basis points to 75.5%.
- Operating loss for the quarter was RMB (167) million.
- The company had $9.8 billion in cash and cash equivalents as of June 30, 2022.
- Adjusted EBITDA for the quarter increased 290% year-on-year to RMB355 million (US$53 million).
- Attributable net profit for the quarter was RMB69 million compared to a loss of RMB(647) million last year.
- Non-GAAP loss per common share and per ADS for the second quarter of 2022 was RMB(0.31) or $(0.05).
- “Recovery momentum in Europe and the United States remained robust, and the recovery in Asia-Pacific travel activity also accelerated on the back of further easing of travel restrictions,” said Executive Chairman James Liang.
- “Despite the challenges in the Chinese domestic market in the first two months of the second quarter, basic travel demand remained solid.”
- Price promotion: TCOM shares are trading up 1.15% at $24.71 on the last check Thursday premarket.
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