Overview
- Net revenue rose 16% year over year to 18.3 billion yuan ($2.58 billion), topping expectations across accommodations, transportation, corporate travel, and packaged tours.
- Adjusted EBITDA reached 6.35 billion yuan, beating forecasts, while non-GAAP EPADS came in at $3.87 with a boost from asset sale gains.
- The company increased fourth-quarter revenue guidance, with Benchmark now modeling roughly 17% growth on sustained leisure and cross‑border demand.
- Benchmark’s Fawne Jiang reaffirmed a Buy rating and raised the price target to $82, pointing to international expansion and operating leverage as key drivers.
- Shares recently traded up about 2.4% to $72.57 as investors digested the results and updated outlook.