Trip.com Group Ltd (NASDAQ:TCOM) stock fell 2.55% (As on March 7, 11:26:54 AM UTC-4, Source: Google Finance) though the company beaten the market’s expectations for both topline and bottomline. The domestic business in China remained resilient and the international business continued to show strong recovery momentum. Outbound air-ticket bookings and hotel bookings increased by over 200% and 140% year over year in the fourth quarter, respectively. Overall air-ticket bookings on the Company’s global platforms grew by 80% year over year in the fourth quarter.

Moreover, Accommodation reservation revenue for the fourth quarter of 2022 was RMB1.7 billion (US$245 million), representing a 12% decrease from the same period in 2021 and a 42% decrease from the previous quarter, primarily due to the surges of COVID-19 infections in certain regions of China. Transportation ticketing revenue for the fourth quarter of 2022 was RMB2.2 billion (US$320 million), representing a 45% increase from the same period in 2021 primarily due to the strong recovery of overseas market. Packaged-tour revenue for the fourth quarter of 2022 was RMB164 million (US$24 million), representing a 7% decrease from the same period in 2021. Corporate travel revenue for the fourth quarter of 2022 was RMB277 million (US$40 million), representing a 25% decrease from the same period in 2021.

TCOM in the fourth quarter of FY 22 has reported the adjusted earnings per share of RMB0.76, beating the analysts’ estimates for the adjusted earnings per share of (RMB0.25). The company had reported the adjusted revenue growth of 7 percent to RMB5 billion in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of RMB4.85 billion. Net revenue for the fourth quarter of 2022 decreased by 27% from the previous quarter primarily due to the surges of COVID-19 infections in certain regions of China and the seasonality in winter. Net income for the fourth quarter of 2022 was RMB2.1 billion (US$301 million), compared to net loss of RMB883 million for the same period in 2021 and net income of RMB245 million for the previous quarter. Adjusted EBITDA for the fourth quarter of 2022 was RMB286 million (US$41 million), compared to RMB54 million for the same period in 2021 and RMB1.4 billion for the previous quarter. Adjusted EBITDA margin was 6% for the fourth quarter of 2022, compared to 1% for the same period in 2021 and 21% for the previous quarter. As of December 31, 2022, the balance of cash and cash equivalents, restricted cash, short-term investment, held to maturity time deposit and financial products was RMB59.6 billion (US$8.6 billion).