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Trip.com Group reports a net loss of USD134 million for third quarter

12/16/2021| 2:05:39 PM| 中文

Net revenue for the third quarter of 2021 decreased by 9% from the previous quarter, primarily due to the reemergence of COVID-19 infections in certain regions in China.

Trip.com Group Limited, a one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management, today announced its unaudited financial results for the third quarter of 2021. 

In the beginning of the third quarter of 2021, the Company continued to experience steady recovery of both domestic and overseas business. However, in August and September 2021, a few waves of COVID-19 infections reemerged in certain regions of China, which restrained users demand for the Company products, and materially and adversely affected the overall results of operations for the third quarter of 2021. 

For the third quarter of 2021, Trip.com Group reported net revenue of RMB5.3 billion (US$831 million), representing a 2% decrease from the same period in 2020. Net revenue for the third quarter of 2021 decreased by 9% from the previous quarter, primarily due to the reemergence of COVID-19 infections in certain regions in China. 

Net loss attributable to Trip.com Group's shareholders for the third quarter of 2021 was RMB849 million (US$131 million), compared to net income attributable to Trip.com Group's shareholders of RMB1.6 billion in the same period in 2020 and net loss attributable to Trip.com Group's shareholders of RMB647 million in the previous quarter. Excluding share-based compensation charges and fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), non-GAAP net income attributable to Trip.com Group's shareholders was RMB523 million (US$81 million), compared to non-GAAP net income attributable to Trip.com Group's shareholders of RMB1.4 billion in the same period in 2020 and non-GAAP net income attributable to Trip.com Group's shareholders of RMB728 million in the previous quarter.

Accommodation reservation revenue for the third quarter of 2021 was RMB2.2 billion (US$341 million), representing an 11% decrease from the same period in 2020, and an 11% decrease from the previous quarter, primarily due to the reemergence of COVID-19 infections in certain regions in China. 

Transportation ticketing revenue for the third quarter of 2021 was RMB1.8 billion (US$282 million), representing a 5% decrease from the same period in 2020, and a 12% decrease from the previous quarter, primarily due to the reemergence of COVID-19 infections in certain regions in China. 

Sales and marketing expenses for the third quarter of 2021 increased by 12% to RMB1.3 billion (US$197 million) from the same period in 2020, primarily due to the increase in expenses relating to sales and marketing promotion activities. Sales and marketing expenses decreased by 9% from the previous quarter. Sales and marketing expenses for the third quarter of 2021 accounted for 24% of the net revenue.

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TAGS: Trip.com Group |  financial report | Chinese market
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