Trip.Com Stock Is Trading Lower Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
Trip.Com Group Ltd (NYSE:TCOM) reported a 99% increase in third-quarter revenue to $1.89 billion and adjusted earnings per ADS of $1.00. Bookings on the platform rose over 100% year-over-year, with domestic hotel bookings up over 90% and outbound hotel and air reservations at 80% of pre-Covid levels. The company repurchased $120 million of its stock and announced a new capital return policy starting in 2024. Despite the positive results, TCOM shares dropped 5.51% to $34.65.
November 21, 2023 | 2:34 pm
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NEGATIVE IMPACT
Trip.Com reported strong Q3 results with significant revenue growth and a new capital return policy, yet its stock price declined by 5.51%.
Despite Trip.Com's positive earnings report and the announcement of a new capital return policy, the stock price fell, which could be due to investors taking profits after the earnings announcement or concerns about future growth prospects. The short-term impact is negative due to the stock price decline on the day of the announcement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100