Trip.com reports quarterly loss after antitrust penalty
Trip.com ($TCOM) reported second-quarter revenue of RMB15.7 billion, up 6% from a year earlier but down 3% sequentially. The group recorded a net loss of RMB2.4 billion, compared with a RMB4.9 billion profit a year earlier, after recognizing a RMB5.2 billion antitrust penalty. The penalty had already been announced; its effect on these financial results is the new disclosure. Adjusted EBITDA declined to RMB4.6 billion from RMB4.9 billion, while revenue from the company’s international platform i
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