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Trip.com Group Faces Lawsuit After Antitrust Investigation and AI Pricing Fallout Trip.com Group is the focus of a securities class action lawsuit alleging it misled investors about regulatory risks tied to a Chinese antitrust investigation.
The probe by China’s State Administration for Market Regulation targets alleged monopolistic practices and an AI-based hotel price adjustment tool accused of supporting anti-competitive behavior.
Several law firms are urging investors who bought Trip.com securities between April 30, 2024 and January 13, 2026 to consider participating in the lawsuit and seeking lead plaintiff status.
For you as an investor, the key issue is disclosure risk. The complaints claim Trip.com and certain executives did not adequately inform the market about the scale and implications of the antitrust probe, particularly around the AI hotel pricing system that was later shut down. The sharp share price reaction after the investigation became public is central to the allegation that earlier statements were false or misleading.
Class actions like this can take time to resolve and outcomes can range from dismissals to cash settlements. Along the way, legal and regulatory developments may affect perceptions of governance, compliance practices and, potentially, costs associated with the case or any remedies regulators require. If you held shares during the stated period, the law firm alerts are essentially an invitation to review your trading history, understand your potential legal rights and weigh whether to engage with counsel. Reported Earnings • Apr 30
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: CN¥50.62 (up from CN¥26.10 in FY 2024). Revenue: CN¥62.4b (up 17% from FY 2024). Net income: CN¥33.3b (up 95% from FY 2024). Profit margin: 53% (up from 32% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.7%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Aankondiging • Mar 12
Rosen Law Firm Files Class Action Lawsuit on Behalf of Purchasers of the Securities of Trip.Com Group Limited Rosen Law Firm announced it has filed a class action lawsuit on behalf of purchasers of the securities of Trip.com Group Limited between April 30, 2024 and January 13, 2026, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Trip.com investors under the federal securities laws . According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Defendants recklessly understated the regulatory risk facing Trip.com as a result of its monopolistic business activities; and (2) as a result, defendants’ statements about Trip.com’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. Reported Earnings • Feb 26
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: CN¥50.62 (up from CN¥26.10 in FY 2024). Revenue: CN¥62.4b (up 17% from FY 2024). Net income: CN¥33.3b (up 95% from FY 2024). Profit margin: 53% (up from 32% in FY 2024). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.7%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 26
Trip.com Group Limited Announces Management Changes, Effective February 25, 2026 Trip.com Group Limited announced a series of changes to its board of directors, effective February 25, 2026. Mr. Min Fan has resigned from his positions as a director and the president of the Company, and Mr. Qi Ji has resigned from his position as a director. As co-founders of the Company, Mr. Fan and Mr. Ji have made foundational and immeasurable contributions to its inception, growth, and success. The board expresses its most sincere gratitude and deepest appreciation for their vision, extraordinary leadership, and years of dedicated service. Concurrently, the Company announced the appointments of Ms. May Yihong Wu and Ms. Iris Yang Xiao as new independent directors. These appointments reflect the board's ongoing commitment to maintaining diverse expertise and fresh perspectives, positioning it to effectively guide the Company's evolving strategy and oversee future opportunities and risks. Additionally, Mr. Gabriel Li has been appointed to serve on the compensation committee of the board of directors. Ms. May Yihong Wu has been serving as an independent director, the chairwoman of the audit committee and a member of the compensation committee of MakeMyTrip Limited since May 2024, an independent non-executive director and chairwoman of the audit committee of Alibaba Health Information Technology Limited since August 2023, an independent non-executive director and chairwoman of the audit committee of Swire Properties Limited since May 2017, and an independent director and a member of the corporate governance and nominating committee of Noah Holdings Limited since November 2010, where she was also a member of the compensation committee from November 2010 to May 2015 and has been the chairwoman of the compensation committee since May 2015. From July 2019 to May 2023, Ms. Wu also served as a board adviser of Homeinns Hotel Group, where she also served as the chief strategy officer from May 2010 to June 2019 and chief financial officer from July 2006 to April 2010. Ms. Wu holds an MBA degree from the Kellogg School of Management at Northwestern University, a master's degree in economics from Brooklyn College of the City University of New York, and a bachelor's degree in biochemistry from Fudan University. Ms. Iris Yang Xiao served as an investment analyst of Capital International Investors, Hong Kong from June 2020 to June 2025. Prior to that, Ms. Xiao worked at Principal Global Investors from March 2013 to March 2020, including as a portfolio manager and as an equity analyst. Prior to that, Ms. Xiao served as a portfolio manager of Ping An of China Asset Management from March 2010 to February 2013. Ms. Xiao holds a bachelor's degree in international economics and trade from Shanghai Jiao Tong University and a master's degree in global finance from the New York University Stern Business School and the Hong Kong University of Science and Technology. According to the Company's current articles of association, each of Ms. Wu and Ms. Xiao will hold office as a director of the Company until the first annual general meeting following her appointment, at which point she will be eligible for re-election. Aankondiging • Feb 09
Trip.com Group Limited to Report Q4, 2025 Results on Feb 26, 2026 Trip.com Group Limited announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Feb 26, 2026 Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$62.78, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Hospitality industry in the US. Total returns to shareholders of 73% over the past three years. Major Estimate Revision • Nov 24
Consensus EPS estimates increase by 27% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from CN¥34.75 to CN¥44.14. Revenue forecast steady at CN¥61.9b. Net income forecast to shrink 29% next year vs 29% growth forecast for Hospitality industry in the US . Consensus price target up from US$83.54 to US$85.46. Share price was steady at US$69.85 over the past week. Reported Earnings • Nov 19
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: CN¥30.37 (up from CN¥10.36 in 3Q 2024). Revenue: CN¥18.3b (up 16% from 3Q 2024). Net income: CN¥19.9b (up 194% from 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 113%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Aankondiging • Nov 05
Trip.com Group Limited to Report Q3, 2025 Results on Nov 17, 2025 Trip.com Group Limited announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 17, 2025 Reported Earnings • Aug 28
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: CN¥7.34 (up from CN¥5.84 in 2Q 2024). Revenue: CN¥14.8b (up 16% from 2Q 2024). Net income: CN¥4.85b (up 26% from 2Q 2024). Profit margin: 33% (up from 30% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 15
Trip.com Group Limited to Report Q2, 2025 Results on Aug 27, 2025 Trip.com Group Limited announced that they will report Q2, 2025 results After-Market on Aug 27, 2025 Reported Earnings • May 20
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: CN¥6.48 (down from CN¥6.62 in 1Q 2024). Revenue: CN¥13.8b (up 16% from 1Q 2024). Net income: CN¥4.28b (flat on 1Q 2024). Profit margin: 31% (down from 36% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 30%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Aankondiging • May 20
Trip.com Group Limited, Annual General Meeting, Jun 30, 2025 Trip.com Group Limited, Annual General Meeting, Jun 30, 2025, at 09:30 China Standard Time. Location: building 16, 968 jinzhong road, shanghai 200335, prc., China Aankondiging • May 06
Trip.com Group Limited to Report Q1, 2025 Results on May 19, 2025 Trip.com Group Limited announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on May 19, 2025 Reported Earnings • Apr 13
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: CN¥26.10 (up from CN¥15.19 in FY 2023). Revenue: CN¥53.3b (up 20% from FY 2023). Net income: CN¥17.1b (up 72% from FY 2023). Profit margin: 32% (up from 22% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$53.55, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 18x in the Hospitality industry in the US. Total returns to shareholders of 150% over the past three years. Upcoming Dividend • Mar 10
Upcoming dividend of US$0.28 per share Eligible shareholders must have bought the stock before 17 March 2025. Payment date: 04 April 2025. Trailing yield: 0.5%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (1.8%). Reported Earnings • Feb 26
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: CN¥26.10 (up from CN¥15.19 in FY 2023). Revenue: CN¥53.3b (up 20% from FY 2023). Net income: CN¥17.1b (up 72% from FY 2023). Profit margin: 32% (up from 22% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 25
Trip.com Group Limited (NasdaqGS:TCOM) announces an Equity Buyback for $400 million worth of its shares. Trip.com Group Limited (NasdaqGS:TCOM) announces a share repurchase program. Under the program, the company will repurchase up to $400 million worth of it's ordinary shares and/or ADSs. Board Change • Feb 12
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. Director Julius Luo was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$75.06, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Hospitality industry in the US. Total returns to shareholders of 199% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$93.15 per share. Major Estimate Revision • Nov 25
Consensus EPS estimates increase by 18% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from CN¥21.73 to CN¥25.56. Revenue forecast steady at CN¥52.9b. Net income forecast to grow 5.4% next year vs 26% growth forecast for Hospitality industry in the US. Consensus price target up from US$66.86 to US$75.29. Share price rose 3.8% to US$63.64 over the past week. Reported Earnings • Nov 20
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: CN¥10.36 (up from CN¥7.06 in 3Q 2023). Revenue: CN¥15.9b (up 16% from 3Q 2023). Net income: CN¥6.77b (up 47% from 3Q 2023). Profit margin: 43% (up from 34% in 3Q 2023). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 58%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Aankondiging • Nov 05
Trip.com Group Limited to Report Q3, 2024 Results on Nov 19, 2024 Trip.com Group Limited announced that they will report Q3, 2024 results at 4:00 PM, US Eastern Standard Time on Nov 19, 2024 Buy Or Sell Opportunity • Oct 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 35% to US$61.25. The fair value is estimated to be US$50.45, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 86%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 8.8% per annum over the same time period. Recent Insider Transactions Derivative • Oct 17
Independent Director notifies of intention to sell stock Jianping Gan intends to sell 31k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of October. If the sale is conducted around the recent share price of US$61.00, it would amount to US$1.9m. As of today, Jianping currently holds no shares directly (This sale likely refers to shares that have not yet been received). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Buy Or Sell Opportunity • Oct 01
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to US$62.51. The fair value is estimated to be US$51.87, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 86%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 8.8% per annum over the same time period. Recent Insider Transactions Derivative • Sep 27
CFO & Executive VP notifies of intention to sell stock Xiaofan Wang intends to sell 500k shares in the next 90 days after lodging an Intent To Sell Form on the 26th of September. If the sale is conducted around the recent share price of US$53.06, it would amount to US$27m. As of today, Xiaofan currently holds no shares directly (This sale likely refers to shares that have not yet been received). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$56.68, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Hospitality industry in the US. Total returns to shareholders of 84% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$50.72 per share. Major Estimate Revision • Sep 02
Consensus EPS estimates increase by 10% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from CN¥19.65 to CN¥21.64. Revenue forecast steady at CN¥52.4b. Net income forecast to grow 7.9% next year vs 24% growth forecast for Hospitality industry in the US. Consensus price target down from US$66.63 to US$64.26. Share price rose 11% to US$47.14 over the past week. Recent Insider Transactions Derivative • Sep 01
Co-Founder notifies of intention to sell stock Min Fan intends to sell 250k shares in the next 90 days after lodging an Intent To Sell Form on the 30th of August. If the sale is conducted around the recent share price of US$42.34, it would amount to US$11m. Since March 2024, Min has owned 5.65m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Reported Earnings • Aug 27
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: CN¥5.84 (up from CN¥0.97 in 2Q 2023). Revenue: CN¥12.8b (up 14% from 2Q 2023). Net income: CN¥3.83b (up CN¥3.20b from 2Q 2023). Profit margin: 30% (up from 5.6% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 24%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 14
Trip.com Group Limited to Report Q2, 2024 Results on Aug 26, 2024 Trip.com Group Limited announced that they will report Q2, 2024 results on Aug 26, 2024 Buy Or Sell Opportunity • Jul 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.7% to US$46.42. The fair value is estimated to be US$58.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Earnings per share has grown by 69%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Recent Insider Transactions Derivative • Jul 11
Independent Director notifies of intention to sell stock Jianping Gan intends to sell 32k shares in the next 90 days after lodging an Intent To Sell Form on the 9th of July. If the sale is conducted around the recent share price of US$49.85, it would amount to US$1.6m. As of today, Jianping currently holds no shares directly (This sale likely refers to shares that have not yet been received). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Reported Earnings • Jun 06
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: CN¥6.62 (up from CN¥5.18 in 1Q 2023). Revenue: CN¥11.9b (up 29% from 1Q 2023). Net income: CN¥4.31b (up 28% from 1Q 2023). Profit margin: 36% (in line with 1Q 2023). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 86%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions Derivative • May 26
Co-Founder notifies of intention to sell stock Min Fan intends to sell 324k shares in the next 90 days after lodging an Intent To Sell Form on the 23rd of May. If the sale is conducted around the recent share price of US$56.41, it would amount to US$18m. Since March 2024, Min has owned 5.65m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Aankondiging • May 10
Trip.com Group Limited to Report Q1, 2024 Results on May 20, 2024 Trip.com Group Limited announced that they will report Q1, 2024 results at 4:00 PM, US Eastern Standard Time on May 20, 2024 Reported Earnings • May 01
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: CN¥15.19 (up from CN¥2.16 in FY 2022). Revenue: CN¥44.5b (up 122% from FY 2022). Net income: CN¥9.92b (up CN¥8.52b from FY 2022). Profit margin: 22% (up from 7.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.1%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions Derivative • Apr 14
Co-Founder notifies of intention to sell stock Min Fan intends to sell 150k shares in the next 90 days after lodging an Intent To Sell Form on the 11th of April. If the sale is conducted around the recent share price of US$48.75, it would amount to US$7.3m. Min currently holds 6.86m shares (0.010674596512157845 of the company). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Recent Insider Transactions Derivative • Apr 04
Co-Founder notifies of intention to sell stock Min Fan intends to sell 300k shares in the next 90 days after lodging an Intent To Sell Form on the 2nd of April. If the sale is conducted around the recent share price of US$46.96, it would amount to US$14m. Min currently holds 6.86m shares (0.010674596512157845 of the company). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Major Estimate Revision • Mar 01
Consensus EPS estimates increase by 15% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from CN¥14.39 to CN¥16.56. Revenue forecast unchanged at CN¥52.7b. Net income forecast to grow 12% next year vs 25% growth forecast for Hospitality industry in the US. Consensus price target up from US$49.88 to US$54.39. Share price fell 5.1% to US$44.91 over the past week. Major Estimate Revision • Feb 29
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from CN¥51.5b to CN¥52.7b. EPS estimate increased from CN¥14.39 to CN¥16.57 per share. Net income forecast to grow 12% next year vs 24% growth forecast for Hospitality industry in the US. Consensus price target up from US$49.66 to US$54.38. Share price rose 6.1% to US$44.46 over the past week. Recent Insider Transactions Derivative • Feb 25
Co-Founder notifies of intention to sell stock Min Fan intends to sell 172k shares in the next 90 days after lodging an Intent To Sell Form on the 22nd of February. If the sale is conducted around the recent share price of US$41.91, it would amount to US$7.2m. Min currently holds 6.86m shares (0.010674596512157845 of the company). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Reported Earnings • Feb 23
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: CN¥15.19 (up from CN¥2.16 in FY 2022). Revenue: CN¥44.5b (up 122% from FY 2022). Net income: CN¥9.92b (up CN¥8.52b from FY 2022). Profit margin: 22% (up from 7.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.1%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.