Ctrip.com (CTRP) Stock Up as Q2 Earnings Gained More Than 500%

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Ctrip.com (NASDAQ:CTRP) stock was gaining after hours on Wednesday after the company reported strong quarterly earnings results for its latest period.

Ctrip.comThe travel service provider said that for its second quarter of the fiscal year 2018, its net income came in at RMB2.4 billion (US$360 million), which was a whopping 564% gain compared to the RMB359 million it amassed during the second quarter of its fiscal 2017.

Ctrip.com added that its quarterly revenue reached RMB7.3 billion (US$1.1 billion) for the period, a 13% surge compared to the year-ago quarter. Its operating margin was 10% for the period, higher than the 9% operating margin for the year-ago quarter, while non-GAAP operating margin was 16% for the period, ahead of the 14% from the year-ago quarter.

Excluding Skyscanner, both the company’s international hotel and air businesses experienced a 40% volume growth rate in the period thanks to growth in its outbound travel business, as well as the increasing popularity of Trip.com. Skyscanner’s direct booking program revenue was up 600% year-over-year.

“Ctrip delivered solid results in the second quarter of 2018…” said Jane Sun, Ctrip.com CEO. “Looking ahead, we are on the right track to accomplish our long-term goals. Our persistence in ‘customer-centricity,’ deep involvement in industry value chain, and solid execution in the international business will create enormous growth potentials in the years to come.”

CTRP stock was up about 1.4% after the bell following the company’s quarterly earnings report. Shares were down about 3.9% during regular trading hours in anticipation of its report.


Article printed from InvestorPlace Media, https://investorplace.com/2018/09/ctrip-com-ctrp/.

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