Analyst Consensus ?
ConsensusBuy44 ratings
Bullish3170.5%
Neutral1125.0%
Bearish24.5%
Trip.com Group Limited · TCOM · FY2026 Q2 · Calendar Q3 2026
Trip.com pairs international growth with heavier AI investment
The quarter supports a constructive operating thesis: international travel, entertainment and AI-enhanced engagement are showing momentum. The main test is whether greater AI and technology investment can translate into durable, profitable growth while regulatory and macro risks remain contained.
Reported After market closeNASDAQConsumer Cyclical
$26.43B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.07
Consensus $0.88
EPS surprise
+22.3%
Reported versus consensus
Reported revenue
$2.31B
Consensus $2.29B
Revenue surprise
+0.6%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+3.0%
Event window
SPY move
-0.4%
Same window
Abnormal move
+3.4%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
+0.6%
Up to 20 sessions
TCOMSPY benchmark
Ask FN2 about TCOM FY2026 Q2
Transcript, numbers and history already loaded
Why did TCOM rise 3.0% after beating EPS estimates in FY2026 Q2?What changed in TCOM's guidance and outlook in FY2026 Q2?Give me the bull and bear case for TCOM after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior quarter, the supplied analysis shows stronger evidence of AI adoption and entertainment momentum: TripGenie-assisted orders grew about 400% year over year, entertainment gross bookings rose more than 80%, and the company disclosed a RMB 5.18 billion one-off antitrust penalty. The strategic focus on inbound travel and a 200 million traveler goal continued.
Guidance delta
Guidance sentiment was maintained; the supplied analysis does not identify a new quantitative guidance change.
Key takeaways
- Q2 revenue grew 6% year over year, while international OTA revenue rose more than 50%.
- TripGenie AI-assisted orders grew about 400% year over year and reached about 60% of interactions.
- Entertainment gross bookings rose more than 80%, supporting premium and purpose-driven travel demand.
- The RMB 5.18 billion antitrust penalty was described as a one-off item excluded from core performance.
- Management is targeting 200 million inbound travelers over the next five years.
Management priorities
- Scale inbound travel and expand supply across Europe, the Americas and Asia.
- Extend TripGenie and AI-powered search across the travel journey.
- Roll out the multi-tier hotel and local-partner framework.
- Invest in technology, data and marketing while strengthening governance.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$39.78Current
$30Low
$57.17Average
$85High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 24, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Macquarie | Outperform | Neutral | Upgrade | Sep 17, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Sep 17, 2026 |
| StoneX | Buy | Buy | Maintain | Sep 16, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Sep 16, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 30, 2026 |
| China Renaissance | Hold | Buy | Downgrade | Jul 2, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jun 29, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jun 26, 2026 |
| Benchmark | Buy | Buy | Maintain | Jun 25, 2026 |
| TD Cowen | Buy | Buy | Maintain | Feb 26, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Aug 29, 2025 |
| TD Securities | Buy | Buy | Maintain | May 20, 2025 |
| HSBC | Buy | Hold | Upgrade | Nov 19, 2024 |
| CLSA | Buy | Buy | Maintain | May 13, 2024 |
| UBS | Buy | Buy | Maintain | Feb 22, 2024 |
| Nomura Instinet | Neutral | Buy | Downgrade | Nov 21, 2023 |
| Daiwa Capital | Buy | Outperform | Maintain | Jun 9, 2023 |
| New Street Research | Buy | Neutral | Upgrade | Jan 4, 2022 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | May 17, 2021 |
| Goldman Sachs | Buy | Neutral | Upgrade | Apr 19, 2021 |
| CMB International | Buy | Buy | Maintain | Dec 18, 2020 |
| New Street | Neutral | Buy | Downgrade | Dec 3, 2020 |
| Credit Suisse | Outperform | Neutral | Upgrade | Nov 11, 2020 |
| ICBC Research | Neutral | Buy | Downgrade | Sep 15, 2020 |
| BTIG | Neutral | Neutral | Maintain | Jun 11, 2020 |
| Nomura | Buy | Neutral | Upgrade | May 29, 2020 |
| Bank of America | Buy | Buy | Maintain | Sep 11, 2019 |
| Jefferies | Buy | Buy | Maintain | Aug 5, 2019 |
| Wells Fargo | Perform | Market Perform | Maintain | Sep 6, 2018 |
| Deutsche Bank | Hold | Hold | Maintain | Feb 5, 2018 |
| Oppenheimer | Outperform | Outperform | Maintain | Jan 26, 2018 |
| Guggenheim | Neutral | Buy | Downgrade | Jan 23, 2018 |
| Cowen & Co. | Outperform | Outperform | Maintain | Aug 28, 2017 |
| Brean Capital | Buy | Buy | Maintain | Jun 16, 2016 |
| Singular Research | Sell | Sell | Maintain | Feb 1, 2016 |
| Raymond James | Buy | Outperform | Maintain | Nov 13, 2015 |
| Stifel Nicolaus | Buy | Hold | Upgrade | Aug 28, 2015 |
| Summit Research Partners | Hold | Hold | Maintain | Apr 20, 2015 |
| PiperJaffray | Outperform | Neutral | Upgrade | Apr 7, 2015 |
| Aegis Capital | Hold | Buy | Downgrade | Aug 1, 2014 |
| Standard Chartered Bank | Underperform | In Line | Downgrade | Nov 6, 2013 |
| TH Capital | Buy | Hold | Upgrade | Oct 29, 2013 |
| Credit Agricole | Buy | Outperform | Maintain | May 9, 2013 |
| JG Capital | Neutral | Neutral | Maintain | Oct 2, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $39.78. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Macquarie | Analyst unavailable | $52.2 | $40.43 | +31.2% | Sep 17, 2026 |
| Mizuho Securities | James Lee | $60 | $39.25 | +50.8% | Sep 16, 2026 |
| HSBC | Parash Jain | $48 | $41.38 | +20.7% | Sep 3, 2026 |
| Jefferies | Thomas Chong | $63 | $44.77 | +58.4% | Jul 28, 2026 |
| Barclays | Analyst unavailable | $60 | $40.49 | +50.8% | Jun 26, 2026 |
| Macquarie | Ellie Jiang | $44.3 | $40.49 | +11.4% | Jun 26, 2026 |
| Barclays | Jiong Shao | $75 | $52.12 | +88.5% | Feb 26, 2026 |
| Morgan Stanley | Yang Liu | $75 | $52.33 | +88.5% | Feb 26, 2026 |
| Barclays | Jiong Shao | $90 | $72.44 | +126.2% | Nov 19, 2025 |
| Bernstein | Analyst unavailable | $78 | $75.03 | +96.1% | Aug 29, 2025 |
| Barclays | Analyst unavailable | $85 | $75.03 | +113.7% | Aug 29, 2025 |
| Mizuho Securities | Analyst unavailable | $81 | $75.03 | +103.6% | Aug 28, 2025 |
| Barclays | Jiong Shao | $84 | $64.97 | +111.2% | May 16, 2025 |
| Macquarie | Ellie Jiang | $80.8 | $41.88 | +103.1% | Nov 19, 2024 |
| CFRA | Siti Salikin | $80 | $41.88 | +101.1% | Nov 19, 2024 |
| HSBC | Parash Jain | $75 | $41.88 | +88.5% | Nov 19, 2024 |
| Bernstein | Boris Van | $85 | $67.24 | +113.7% | Nov 4, 2024 |
| Citigroup | Brian Gong | $72 | $62.39 | +81.0% | Oct 10, 2024 |
| Macquarie | Ellie Jiang | $75.4 | $68.43 | +89.5% | Oct 7, 2024 |
| Morgan Stanley | Yang Liu | $61 | $51.14 | +53.3% | Sep 25, 2024 |
| Jefferies | Thomas Chong | $75 | $45.93 | +88.5% | Aug 27, 2024 |
| Morgan Stanley | Alex Poon | $64 | $52.75 | +60.9% | May 24, 2024 |
| CFRA | Siti Salikin | $66 | $52.31 | +65.9% | May 23, 2024 |
| Barclays | Jiong Shao | $76 | $54.5 | +91.1% | May 22, 2024 |
| Mizuho Securities | James Lee | $65 | $57.05 | +63.4% | May 21, 2024 |
| Jefferies | Thomas Chong | $70 | $57.05 | +76.0% | May 21, 2024 |
| Mizuho Securities | James Lee | $55 | $35.91 | +38.3% | Jan 17, 2024 |
| Jefferies | Thomas Chong | $48 | $37.53 | +20.7% | Mar 7, 2023 |
| UBS | Analyst unavailable | $41 | $34.82 | +3.1% | Dec 16, 2022 |
| Barclays | Analyst unavailable | $35 | $27.66 | -12.0% | Sep 28, 2022 |
| Goldman Sachs | Simon Cheung | $33.3 | $25.76 | -16.3% | Sep 13, 2022 |
| Citigroup | Analyst unavailable | $32 | $27.22 | -19.6% | Jun 29, 2022 |
| Mizuho Securities | Analyst unavailable | $30 | $24.57 | -24.6% | Jun 28, 2022 |
| Barclays | Jiong Shao | $33 | $29.59 | -17.0% | Feb 9, 2022 |
| New Street | Jin Yoon | $30 | $25.69 | -24.6% | Jan 4, 2022 |
| Jefferies | Thomas Chong | $34 | $22.45 | -14.5% | Dec 16, 2021 |
| Benchmark Co. | Fawne Jiang | $44 | $29.07 | +10.6% | Sep 24, 2021 |
| Credit Suisse | Ivy Ji | $47 | $35.59 | +18.1% | Jun 28, 2021 |
| Nomura | Jialong Shi | $48 | $41.02 | +20.7% | May 19, 2021 |
| Oppenheimer | Jed Kelly | $45 | $39.44 | +13.1% | May 18, 2021 |
Track every rating change on TCOM the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationTrip.com Group Limited stands as a leading global travel service provider, operating extensively both within China and across international markets. Through its various subsidiaries, the company offers a comprehensive spectrum of travel-related solutions. As a booking intermediary, it facilitates hotel accommodations and air ticket purchases, complementing these with access to train, long-distance bus, and ferry tickets. The firm enhances the travel experience with various value-added services, including a range of travel insurance products (covering aspects like flight delays, accidents, and baggage loss), along with conveniences such as ticket delivery, online check-in, seat selection, expedited security, real-time flight tracking, and airport VIP lounge access. Catering to leisure travelers, Trip.com Group curates diverse packaged tour products, from organized group excursions and semi-private trips to fully customized itineraries.…
Historical context
All TCOM earningsConsumer Cyclical peers this season
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Latest beats and misses
Who reports nextBeat on EPS
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
- AXPFY2026 Q3 · October 23, 2026+4.0% EPS-3.7% move
- RCIFY2026 Q3 · October 23, 2026+9.5% EPS-2.4% move
- EFY2026 Q3 · October 23, 2026+13.9% EPS+4.3% move
- RITM-PDFY2026 Q3 · October 23, 2026+10.2% EPS— move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the TCOM recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-09-16T13:22:59.473586+00:00
- FN2 earnings calendar · 2026-09-20T01:23:12.707946+00:00
- Polygon adjusted daily market bars · 2026-09-20T21:30:54.713706+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-20T21:30:54.710986+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-20. For educational purposes only; not investment advice.