New Street Research - Trip.com Group Ltd. Sponsored ADR (CTRPN) ... TCOM 2Q24 Results: Travel Demand Remains Resilient

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New Street Research

Jin Yoon

TCOM 2Q24 Results: Travel Demand Remains Resilient

What’s new: Trip.com’s reported 2Q24 revs that were in-line with consensus but below our expectations. Travel demand remains resilient where total rev growth could be similar (or potentially better) in 3Q than 2Q. We maintain our PT at USD65.

Analysts:
Jin Yoon

27/08/2024 1 EN

Underlyings

Trip.com Group Ltd. Sponsored ADR

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US22943F1003 Mexican Stock Exchange China

Trip.com Group Ltd. Sponsored ADR

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US89677Q1076 NASDAQ Stock Market China

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Pan European Telecom Services and Cable

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Analysts

Jin Yoon

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TCOM 2Q24 Results: Travel Demand Remains Resilient

China Internet: 2Q24 results wrap-up: Overall earnings beat; 2H24 outlook remains promising.

Greater China Strategy Alpha Picks: September conviction calls.

Trip.com (9961 HK): 2Q24: Strong earnings beat; outbound and international travel remains as key catalyst.

NSR Policy: It’s the Election, Stupid (or Is It?): Comparing Harris and Trump on Leadership

Altice Pre-3Q24 Model Update

T-Mobile selling 3.45GHz portfolio

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