Trip.com's Hong Kong shares hit 22-month low on weak Q2 revenue outlook

Trip.com

25/06/2026 03:30

** Hong Kong shares of one-stop travel platform and services provider Trip.com Group 9961.HK drop 8.8% to HK$322.6, their lowest level since August 2024
** Stock set for biggest one-day pct decline since January 15; top pct loser in the benchmark Hang Seng Index .HSI and Hang Seng TECH Index .HSTECH, which are down 1.2% and 1.5%, respectively
** Trip.com said its Q1 net revenue up 17% y/y and that it expects its Q2 net revenues to grow 3%-8% y/y  
** Jefferies, with "buy" rating, says midpoint of Q2 net revenue guidance below market expectations 
** "Compared to 1Q26, it reflects slower pace of growth, which is expected to have impacts on margins and bottom-line results" - Jefferies
** Citi, with "buy" rating, says slowdown in 2Q26E revenue growth amid surging oil prices and operation adjustment, is not a big surprise   
** YTD, Hong Kong stock down 41.2%, U.S.-listed shares down 35.6%

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))