Trip.com Q2 Revenue Up 6% but SAMR Penalty Drives RMB2.4B Net Loss
TCOM is trading near its 52-week low of $38.04 (7.6% above the low).
Summary
Trip.com Group's Q2 2026 revenue rose 6% to RMB15.7 billion, but a RMB5.2 billion SAMR antitrust penalty pushed the company to a RMB2.4 billion net loss. Excluding the penalty, non-GAAP EPS increased to RMB7.27.
Key Events · Earnings and Guidance · TCOM
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Q2 Revenue Up 6% to RMB15.7B
Total net revenue reached RMB15.7 billion (US$2.3 billion), up 6% year-over-year, driven by resilient travel demand and over 50% growth on the international platform.
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SAMR Penalty Drives Net Loss
A RMB5.2 billion (US$763 million) anti-monopoly penalty from China's SAMR pushed Q2 to a net loss of RMB2.4 billion (US$361 million), versus net income of RMB4.9 billion a year earlier.
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Non-GAAP EPS Rises to RMB7.27
Excluding the penalty, share-based compensation, and fair-value changes, non-GAAP diluted EPS was RMB7.27 (US$1.07), up from RMB7.20 in Q2 2025.
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Transportation Ticketing Declines
Transportation ticketing revenue fell 1% year-over-year to RMB5.4 billion (US$788 million), reflecting macro headwinds including elevated energy prices and geopolitical volatility.
Analysis · TCOM · Trade & Services
Trip.com Group reported Q2 2026 revenue of RMB15.7 billion (US$2.3 billion), up 6% year-over-year, but swung to a net loss of RMB2.4 billion (US$361 million) after booking the RMB5.2 billion (US$763 million) SAMR anti-monopoly penalty. Excluding that one-time charge, net income would have been RMB2.7 billion (US$402 million), and non-GAAP diluted EPS rose to RMB7.27 (US$1.07) from RMB7.20 a year earlier. The international platform grew over 50% year-over-year, while transportation ticketing revenue declined 1% amid macro headwinds. The company holds RMB100.5 billion (US$14.8 billion) in cash and equivalents, providing ample liquidity to absorb the penalty.
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In the 30 days to Oct 3, 2026, 36.5% of the 1062 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.61%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, TCOM was trading at $40.94 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $25.8B. The 52-week trading range was $38.04 to $78.99. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.