Trip.com Group Limited (TCOM) saw its stock price plummet 7.90% in pre-market trading on Tuesday, as investors reacted negatively to the company's first-quarter earnings report. The online travel services provider's disappointing results, particularly in earnings per share, triggered a significant 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 the previous year. The company saw growth across all its business segments, with accommodation reservation revenue leading at 23% year-over-year growth.

The market's strong negative reaction comes despite some positive analyst sentiment. TD Cowen raised its target price to $73 from $67, while Jefferies increased its target to $80 from $77. However, investors appear to be focusing more on the earnings miss than on the revenue growth or analyst optimism. As Trip.com Group continues to navigate the evolving travel landscape, the company faces the challenge of translating its revenue growth into stronger bottom-line results to meet investor expectations.