Trip.com Group Clocks 86% Revenue Growth In Q2

Trip.com Group Ltd TCOM reported second-quarter FY21 sales growth of 86% year-on-year, to RMB5.9 billion ($912 million). Net revenue for Q2 increased by 43% Q/Q.
The company attributed the higher revenue to the recovery momentum of China's domestic market.
Domestic hotel and air-ticket Gross Merchandise Value (GMV) increased 150% Y/Y. Accommodation reservation revenue rose 96% Y/Y, transportation ticketing increased 80%, packaged tour climbed 182%, and corporate travel jumped 141%.
The gross margin for the period expanded 700 basis points Y/Y to 79%. The operating margin was 5.5%, and operating income for the quarter was RMB326 million.
Adjusted EBITDA of RMB916 million ($142 million) rose 638%. It reported non-GAAP EPS of RMB1.13 ($0.18).
Trip.com Group held RMB75.4 billion in cash and equivalents as of June 30, 2021.
Price action: TCOM shares are trading lower by 0.41% at $29.2 in premarket on the last check Friday.

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