• Trip.com Group’s June 25, 2026 Q1 earnings call featured Executive Chairman James Liang, CEO Jane Sun, CFO Xiaofan Wang, with analysts from Goldman Sachs, Morgan Stanley, Jefferies, Mizuho, BofA, UBS, Citi.
• Q1 net revenue RMB 16.2 billion, up 17% y/y; core OTA gross bookings about RMB 300 billion; adjusted EBITDA RMB 4.8 billion.
• Q2 net revenue growth outlook 3%-8% y/y; moderation tied to higher airfares, capacity constraints, route disruptions, compliance-related operational upgrades.
• Inbound travel gross bookings rose about 90% y/y; about 7 million inbound travelers served in Q1; five-year target 200 million inbound travelers.
• Management flagged near-term headwinds from train ticketing guidance; domestic rail ticketing contribution “meaningfully declined,” impacts partly embedded in Q2 outlook.
• AI strategy centers on in-app natural language search, automation-led efficiency, opening inventory and transactions via APIs and MCPs to third-party AI agents.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Trip.com Group Ltd. published the original content used to generate this news brief on June 26, 2026, and is solely responsible for the information contained therein.