Trip.com Group Limited (TCOM) saw its stock price plummet 5.11% in pre-market trading on Tuesday, as investors reacted to the company's first-quarter earnings report that fell short of analyst expectations. The online travel services provider's disappointing results, particularly in earnings per share, triggered a sell-off among investors who had anticipated stronger performance.

According to the company's financial statement released after market close on Monday, Trip.com Group reported adjusted earnings per American depositary share (ADS) of $0.82 for the first quarter, missing the analyst consensus estimate of $0.86. This represents a slight 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 revenue met analyst expectations, coming in at $1.91 billion, marking a 16% increase from $1.65 billion in the same quarter of the previous year. The company saw growth across all its business segments, with accommodation reservation revenue leading at 23% year-over-year growth.

Analysts have had mixed reactions to the earnings report. While some have raised their price targets, the market's immediate response has been negative. TD Cowen raised its target price to $73 from $67, and Jefferies increased its target to $80 from $77. However, the pre-market plunge suggests that investors are focusing more on the earnings miss than on the revenue growth. As Trip.com Group continues to navigate the evolving travel landscape, investors will be closely watching how the company addresses challenges and capitalizes on the increasing integration of travel into everyday life, as highlighted by CEO Jane Sun in the earnings call.