06:33 AM EDT, 08/27/2024 (MT Newswires) -- Trip.com's ( TCOM ) US-listed shares rose early Tuesday as the Chinese travel operator posted higher-than-expected second-quarter earnings, buoyed by strong demand for local and international travel.

Adjusted earnings came in at 7.25 renminbi ($1) per American depositary share for the June quarter, up from 5.11 renminbi a year ago, the company said late Monday, while the consensus on Capital IQ was for normalized EPS of 5.24 renminbi. Net revenue climbed 14% year over year to 12.77 billion renminbi, but was just shy of the Street's view for 12.78 billion renminbi.

"The second quarter of 2024 witnessed continued growth driven by strong travel demand, especially for cross-border travel," Executive Chairman James Liang said in a statement. "Our strong performance highlights our adaptability in a dynamic market."

The company's Nasdaq-listed American depositary receipts jumped about 9.5% in premarket activity.

Accommodation reservation revenue advanced 20% year over year to 5.14 billion renminbi. Sales from transportation ticketing rose to 4.87 billion renminbi from 4.81 billion renminbi in the prior-year quarter. Packaged-tour revenue soared 42% from last year to 1.03 billion renminbi, while corporate travel inclined 8% to 633 million renminbi.

Accommodation bookings on the group's Chinese sites grew roughly 20% year on year, while outbound hotel and air reservations recovered to 100% of pre-COVID levels. "Domestic hotel bookings have also seen robust growth and outpaced the industry despite a tough comparison basis," Chief Financial Officer Xiaofan Wang said during a conference call, according to a Capital IQ transcript. Revenue for the company's global online travel agency platform soared about 70% annually.

Total operating expenses rose to 6.91 billion renminbi from 6.26 billion renminbi in the prior-year quarter, Trip.com ( TCOM ) said.

"We are pleased to see that travel demand remains strong and that our company continues to perform well even with a tough comparison basis," Wang said on the call. "As we look ahead, we are confident that 2024 will be another great year for travel."

Price: 46.19, Change: +3.85, Percent Change: +9.09