Trip.com Group's shares experienced a significant plummet of 6.84% in the intraday session on Tuesday, following the release of the company's fourth quarter and full year 2024 financial results.
The online travel platform operator reported a 23% year-over-year increase in Q4 revenue to RMB 12.7 billion ($1.75 billion). However, its non-GAAP net income for the quarter fell to RMB 3 billion, lower than the RMB 6 billion recorded in the previous quarter, despite being slightly higher than the year-ago figure of RMB 2.7 billion.
Analysts at Citi, who maintain a "buy" rating on the stock, acknowledged that while Trip.com's Q4 revenue was solid, the non-GAAP operating profit margin might have fallen short of some investors' expectations, potentially contributing to the share price decline.
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