Trip.com Group, the Shanghai, China-based parent company of Skyscanner, is expected to see its sales and profits surge year-over-year on the rebound of travel, especially in China with the continued easing of pandemic-related restrictions.
The company is handing down its second-quarter earnings after the market closes on Monday, September 4.
For the quarter, Wall Street analysts expect the company to report earnings per share of $0.50, compared to a loss per share of $0.05 in the year-ago quarter, a period when Trip.com’s operations were disrupted by the resurgence of COVID-19 in China.
This represents a 1,100% increase in earnings year-over-year.
Revenue is expected to almost triple from $598 million to $1.51 billion, a 153.1% jump, according to Zacks Consensus Estimate.
During 2Q, Trip.com is expected to have benefitted from an uptick in domestic and outbound travel activity in China, strong hotel bookings, and an increase in same-city staycation bookings.
Shares of Trip.com’s Nasdaq-listed shares rose ahead of its results, up 4% at US$40.89 on Friday morning.
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