06:26 AM EST, 11/19/2024 (MT Newswires) -- Trip.com's ( TCOM ) US-listed shares rose early Tuesday as the Chinese travel operator recorded better-than-expected third-quarter results amid robust local and international travel demand.

Adjusted earnings came in at 8.75 renminbi ($1.25) per American depositary share for the September quarter, up from 7.26 renminbi a year ago, the company said late Monday. The consensus on FactSet was for EPS of 6.93 renminbi. Net revenue climbed 16% year over year to 15.87 billion renminbi, ahead of FactSet's estimate of 15.63 billion renminbi.

"During the third quarter of 2024, both domestic and international travel exhibited robust growth," Executive Chairman James Liang said in a statement. "With increasing consumer confidence and heightened travel sentiment, we are optimistic about the continued growth of the travel industry."

The company's Nasdaq-listed American depositary receipts were up 4.5% in premarket activity.

Accommodation reservation revenue advanced 22% year over year to 6.8 billion renminbi. Sales from transportation ticketing rose to 5.65 billion renminbi from 5.37 billion renminbi last year. Packaged-tour revenue jumped 17% to 1.56 billion renminbi, while corporate travel inclined 11% to 656 million renminbi.

Outbound hotel and air reservations recovered to 120% of pre-COVID levels, while air ticket and hotel bookings on the company's international online travel agency platform soared more than 60% on an annual basis. "In (the third quarter), inbound hotel bookings on our platform increasing by around 100%, reflecting a heightened interest in traveling to China among global travelers," Chief Executive Jane Sun said during an earnings call, according to a FactSet transcript.

Cost of revenue increased by 13% to 2.8 billion renminbi. Total operating expenses rose to 8.07 billion renminbi from 7.36 billion renminbi in the prior-year quarter, Trip.com ( TCOM ) said.

"Our company demonstrated solid performance this quarter, and we are encouraged by the strong travel market activity during the peak season," Chief Financial Officer Cindy Xiaofan Wang said on the call. "Looking ahead, we will continue to innovate and collaborate with our partners to capitalize on new market opportunities with an aim of delivering sustained value to our shareholders."