Here's Why Trip.com Group Stock Spiked Higher on Friday

Shares of Chinese travel-booking company Trip.com Group (NASDAQ: TCOM) went up on Friday, after the company reported unaudited results for the second quarter of 2020. As expected, revenue and earnings took substantial hits with people traveling less because of COVID-19. But financial results didn't decline as much as expected. This was taken as good news, sending the stock higher.

As of 3 p.m. EDT, Trip.com stock was up 9%.

Image source: Getty Images.

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Source Fool.com