Trip.com revenue growth slows, warns of antitrust fine

Trip.com Group, China's largest online travel agency, reported a 17% revenue increase to 16.2 billion yuan ($2.4 billion) in the first quarter of 2025, but forecast second-quarter growth of only 3-8%, the weakest since late 2022. Profit for the March quarter fell nearly 42% to 2.5 billion yuan, the lowest since late 2024. The company warned that an antitrust investigation launched in January by China's State Administration for Market Regulation could result in a significant fine, other penalties, or changes to business practices, potentially having a material adverse effect on its financial position. Trip.com operates the Ctrip and Qunar platforms and stated it cannot predict the timing, outcome, or consequences of the probe.