Jefferies: Trip.com Group-S (09961.HK) Q2 adjusted operating profit and net profit both beat expectations; maintains "Buy" for now

Zhitong Finance APP has learned that Jefferies issued a research report stating that Trip.com Group-S (09961.HK)'s Q2 2026 financial results were better than expected, with total revenue in line with market consensus and 1% above the bank's expectations; adjusted operating profit (excluding share-based compensation expenses and antitrust fines) was 4% higher than market consensus and the bank's expectations, and adjusted earnings per share also beat market consensus and the bank's estimates. The bank currently maintains a "Buy" rating on the stock with a target price of HK$491, and will focus on feedback regarding the new commission model as well as travel industry demand.