Trip.com Group’s Q1 2026 net revenues rose 17% year-over-year to RMB16.2 billion (US$2.4 billion) driven by 65% growth in international platform bookings and a 90% surge in inbound travel bookings. The company forecasts Q2 revenue growth of 3%–8%, signaling a moderation in margin and bottom-line expansion.
Trip.com Group reported total net revenues of RMB16.2 billion (US$2.4 billion) in Q1 2026, up 17% year-over-year and 5% sequentially, driven by resilient travel demand. Net income was RMB2.5 billion (US$367 million), down from RMB4.3 billion a year earlier, reflecting higher costs and tax expenses.
Gross bookings on the international platform rose 65% year-over-year, while inbound travel bookings surged 90%, reflecting robust global demand and a rebound in cross-border trips. Packaged-tour revenue climbed 19% to RMB1.1 billion (US$164 million) and corporate travel revenue increased 20% to RMB690 million (US$100 million) year-over-year.
Cost of revenue increased 23% to RMB3.3 billion (US$483 million), representing 21% of net revenues. Product development expenses grew 15% to RMB4.1 billion (US$589 million) and sales and marketing expenses rose 25% to RMB3.7 billion (US$543 million), reflecting investments in technology and promotion.
The company expects Q2 2026 net revenue growth of 3%–8% year-over-year, indicating a slower pace compared to Q1. This moderation in top-line growth could exert pressure on operating margins and net profit expansion as seasonality impacts demand.
