Trip.com Group Ltd. (TCOM), a travel service provider, has soared 7.29% in the premarket trading session. As a result, TCOM stock was trading at $25.77 when last checked. During Wednesday’s regular trading session, the stock nominally slid by 0.66% to close the day at$24.02. The stock is on the rise in the premarket owing to the announcement of strong financial results.
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Q4 2021 Financial Results
On Tuesday, after the closure of the market, TCOM announced the unaudited results for the fourth quarter of the fiscal year 2021. The net revenue generated during the said period was $735 million, depicting a 6% decline compared to the same quarter of the preceding year. The cost of revenue reached $176 million after increasing by 23%. The net loss is attributable to the shareholders of the company $131 million versus the net income of $160 million generated during Q4 2020.
FY 2021 Financial Results
Alongside, TCOM also announced the results for the full year 2021. The reported net revenue for the fiscal year 2021 was $735 million, a decrease of 6% compared to fiscal 2020. The cost of revenue for the full year 2021 increased by 14% compared to 2020 to reach $721 million. The net loss suffered by the shareholders of the company was $86 million versus a net loss of $500 million suffered during the fiscal year 2020.
Comments from TCOM CEO
Jane Sun, Chief Executive Officer of TCOM, commented that the company has been able to deliver outstanding performance during the fourth quarter despite the capriciousness the industry endured during the period. The company is best adapting to these volatile conditions which are depicted by the strict cost control measures which are in place. An increase in customer base is also an agenda on the company’s priority list.
What’s Ahead for TCOM?
Analysts are holding a negative evaluation of the stock at the moment. The technical indicators are pointing to a grim future for TCOM stock. Hence, it is expected to perform weakly in the next couple of weeks.