Send me real-time posts from this site at my email

Why Stock Is Soaring Today

What happened

Shares of Group (NASDAQ: TCOM), a Chinese travel company, spiked today after the company reported its first-quarter results.'s bottom-line results matched up with analysts' consensus estimate, while its top line beat Wall Street's expectations.

The travel stock was up by 14.1% as of 12:29 p.m. ET.

So what reported a non-GAAP (adjusted) loss of $0.01 per share in the quarter, which was an improvement from a loss of $0.05 in the year-ago quarter and on par with analysts' consensus bottom-line estimate for the quarter.

Image source: Getty Images.

Investors were also happy to see that the company's revenue of $649 million -- essentially flat from the year-ago quarter -- easily outpaced Wall Street's average estimate of $575 million.

The company said in its press release that staycation travel was "a major contributor to the recovery of the Chinese domestic market" with hotel booking increasing 20% year over year. Management also highlighted that airline ticket bookings on its global platforms increased by 270% from the year-ago quarter.

"Though it was challenging for domestic travel due to the COVID-19 resurgence in China during the first quarter, our results demonstrated our resilience amid a confluence of challenges and uncertainties," CEO Jane Sun said in a press release.

Now what

The company's strong results in the first quarter came at a time when China is easing some of its COVID-related travel restrictions.

The combination of the two is likely helping to fuel the company's share price surge today, which has resulted in's stock gaining nearly 14% year to date.

10 stocks we like better than
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

They just revealed what they believe are the ten best stocks for investors to buy right now... and wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of June 2, 2022

Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.


Popular posts

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue