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Trip.com Q1 Non-GAAP Earnings Decline, Revenue Increases; Q2 Revenue Growth Outlook Issued

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Trip.com (TCOM) reported Q1 non-GAAP earnings Wednesday of 5.73 Chinese renminbi ($0.83) per diluted American depositary share, down from 5.96 renminbi a year earlier.

Three analysts polled by FactSet expected 6.05 renminbi.

Net revenue for the quarter ended March 31 was 16.21 billion renminbi, up from 13.83 billion renminbi a year earlier.

Three analysts surveyed by FactSet expected 15.87 billion renminbi.

For Q2, the online travel platform expects net revenue to grow by about 3% to 8% year-over-year, a slowdown due to increased energy pricing and geopolitical volatility.

Shares of the company were down 13% in Thursday's premarket trading.

Price: $40.24, Change: $-6.02, Percent Change: -13.00%

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