Trip.com's net income for Q1 2026 was 16.2 billion, and Q2 is expected to slow significantly, potentially recording the slowest quarterly growth rate in the past four years.

In the first quarter of 2026, Ctrip Group achieved net revenue of 16.2 billion yuan, an increase of 17% year-on-year, and adjusted EBITDA of 4.8 billion yuan, an increase of 14% year-on-year. By business segment, accommodation booking revenue was 6.5 billion yuan, a 17% increase; transportation ticket revenue was 6.1 billion yuan, a 12% increase; tourism and vacation revenue was 1.1 billion yuan, a 19% increase; and corporate travel management revenue was 690 million yuan, a 20% increase. All business segments benefited from the group's global business expansion and continued growth in international tourism demand. In this quarter, Ctrip's international online travel platform bookings increased by approximately 65% year-on-year, with inbound tourism bookings increasing by approximately 90% year-on-year. The growth was driven by strong demand from major source markets such as Asia-Pacific, Europe, and the United States, with visitors from Europe and the United States accounting for approximately 25% of inbound tourists. Ctrip has set a strategic goal to serve 200 million inbound tourists in the next five years. Looking ahead to the second quarter, Ctrip expects a significant slowdown in year-on-year revenue growth to a minimum of approximately 3%, excluding the impact of the past three years of the pandemic, this growth rate is the lowest quarterly growth rate since Ctrip's listing. The company attributed this result mainly to the direct and indirect impact of unfavorable macro factors such as high energy prices and geopolitical fluctuations, and at the same time, the company proactively made operational adjustments in response to the latest changes in industry standards and compliance frameworks.