Trip.com Posts RMB 15.7 Billion Q2 Revenue, Swings to Loss on RMB 5.2 Billion Antitrust Charge

Trip. com Group (09961. HK, Nasdaq: TCOM) reported interim results for the six months ended June 2026 and unaudited financial results for the second quarter of 2026. Interim net profit attributable to shareholders was RMB 41 million, down 99.55% year on year, with basic earnings per share of RMB 0.06. Total net operating revenue was RMB 31.871 billion, up 11.15% year on year.

Second-quarter net operating revenue was RMB 15.663 billion, up 5.52% year on year. The net loss attributable to shareholders was about RMB 2.458 billion, compared with net profit attributable to shareholders of about RMB 4.846 billion in the same period of 2025. Basic loss per share was RMB 3.89.

com disclosed in its results that the second-quarter loss was mainly due to an antitrust penalty imposed by the State Administration for Market Regulation, for which the company recognized a one-off charge of about RMB 5.2 billion. Excluding the impact of the antitrust penalty, second-quarter net profit was about RMB 2.7 billion. Second-quarter adjusted EBITDA was RMB 4.6 billion, compared with RMB 4.9 billion in the same period of 2025. com Group said it accepts the administrative penalty decision, is implementing rectification requirements in accordance with laws and regulations, and will continue to improve its long-term governance mechanisms.

By revenue segment, second-quarter accommodation reservation revenue was about RMB 6.6 billion, up 6% year on year, or up 8% excluding the penalty-related revenue offset. Transportation ticketing revenue was about RMB 5.4 billion, down 1% year on year. Packaged tours revenue was about RMB 1.2 billion, up 8% year on year and up 3% quarter on quarter. Corporate travel management revenue was about RMB 771 million, up 11% year on year.

com said the year-on-year decline in transportation ticketing revenue was mainly due to the direct and indirect effects of macroeconomic headwinds such as high energy prices and geopolitical volatility. The year-on-year growth in packaged tours revenue was mainly driven by growth in packaged tour bookings, while the quarter-on-quarter increase was mainly driven by travel demand, particularly during holidays. In the domestic market, new scenarios such as spring breaks and performances and sporting events are creating new travel demand. In spring break pilot cities, family travel bookings and spending both increased by more than 300% year on year.

Second-quarter revenue from Trip. com's international platforms grew by more than 50% year on year, while inbound travel revenue grew at a high double-digit rate year on year. The Asia-Pacific region continued to be the main growth driver, while European and American markets achieved faster growth from a smaller base. The company said it will continue to advance its globalization strategy.

After the results were announced, Trip. com Group shares came under pressure, falling as much as 3.1% to a low of HKD 301.6. As of 21:51 that day, the stock was at HKD 302.6, down 2.8%, with turnover of more than HKD 150 million.