Trip.com Group (NASDAQ: TCOM) reported Q3 EPS of $0.34, $0.17 better than the analyst estimate of $0.17. Revenue for the quarter came in at $805 million versus the consensus estimate of $789.98 million.

"In the third quarter of 2020, the global travel industry continued to be under significant pressure from the COVID-19 pandemic. However, in China, we have already seen most of our major business segments return to pre-COVID level of activities in recent months. The speedy recovery in our China market demonstrated once again the strong resilience of the travel industry," said James Liang, Executive Chairman. "Recent progress in the development of effective vaccines has been promising. We look forward to seeing more of our global markets resuming travel activities, following the successful footsteps we have witnessed in China."

"Although challenges related to COVID-19 continue to impact our global business in the third quarter, we were able to quickly adapt our operations and showed strong profitability amid great uncertainties" said Jane Sun, Chief Executive Officer. "We are glad to see that the positive growth trajectory in China exiting the third quarter has extended through the October Golden Week and sustained into the fourth quarter. We will continue to stay lean while investing in the necessary resources to make sure we capture even larger market share as the market rebounds."

Business Outlook

As a result of the continued negative impact due to COVID-19 in the fourth quarter of 2020, the Company expects net revenue to decrease by approximately 37% to 42% year-over-year for the fourth quarter of 2020. This forecast reflects the current and preliminary view based on best information available at the time, which is subject to change.

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