Trip.com Group's shares rose sharply after it reported robust second-quarter results and announced a new share repurchase program to boost shareholder returns.

Shares of the Chinese online travel giant jumped 8% in premarket.

Second-quarter revenue rose 16% to 14.8 billion yuan, equivalent to US$2.07 billion, beating market expectations, while net profit gained 27%. The company attributed the strong results to resilient travel demand, particularly during holiday periods.

Citi said a recovery in domestic average daily rates, a key hospitality metric that shows the average revenue per occupied room per night, and strong international performance supported the top line.

Meanwhile, the company announced a new share repurchase program of up to US$5 billion for its ordinary shares and/or its American depositary shares.

The scale may exceed some investors' expectations and signals management's positive stance on shareholder returns, Citi analysts led by Brian Gong wrote in a note.