Trip.com Group Limited (TCOM) saw its stock price plummet 5.80% in after-hours trading on Monday following the release of its first-quarter earnings report. The online travel services provider reported quarterly earnings that fell short of analyst expectations, disappointing investors who had been anticipating stronger results.

According to the company's financial statement, Trip.com Group posted adjusted earnings per share (EPS) of $0.82, missing the analyst consensus estimate of $0.86 by 4.65%. This represents a 1.2% decrease compared to the same period last year when the company reported earnings of $0.83 per share. Despite the earnings miss, Trip.com Group's quarterly sales met analyst expectations, coming in at $1.91 billion, a 15.69% increase from $1.65 billion in the same quarter of the previous year.

The market's reaction to the earnings miss was particularly pronounced, given that pre-earnings options trading had suggested significant investor interest. Earlier in the day, options volume for Trip.com was reported to be 1.6 times the normal level, with calls leading puts 3:2, indicating that many traders were positioning themselves for a potential upside move. The implied volatility had suggested that the market was anticipating a move of around 4.5% in share price post-earnings. However, the actual drop of 5.80% exceeded these expectations, reflecting investors' disappointment with the company's bottom-line performance.