Ctrip Stock Pops on Q3 Revenue, Operating Margin Increase

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Ctrip stock (NASDAQ:CTRP) is up more than 3% after the bell as the company posted its latest quarterly earnings results after the bell, unveiling a revenue increase year-over-year.

Ctrip StockFor its third quarter of fiscal 2018, the travel services provider brought in net revenue of RMB9.4 billion (US$1.4 billion), marking a 15% surge compared to the year-ago quarter. The company’s operating margin for the period reached 16%, ahead of the 10% from its third quarter of fiscal 2017.

Ctrip added that its non-GAAP operating margin for the period was 20%, ahead of the 16% from the previous quarter. The company’s international air business growth, excluding Skyscanner, was nearly triple the industry growth.

Plus, its Skyscanner direct booking program experienced a revenue growth of roughly 250% compared to its third quarter of the previous fiscal year. Ctrip’s low-star hotel room-night growth surged to nearly 50% year-over-year during the period.

“Ctrip reported solid results in the third quarter of 2018,” said CEO Jane Sun. “We are seeing our large, growing and loyal customer base continue to increase their engagements on Ctrip.”

“With our strong foundation in the travel industry, despite the ongoing macro uncertainty, we are confident that we are the best travel company to capture more travel market share going forward,” she added.

CTRP stock was up about 2.6% during regular trading hours on Wednesday as the company geared up to report its latest quarterly earnings results. A strong revenue showing helped to lift shares an additional 3.3% after the bell on the day.


Article printed from InvestorPlace Media, https://investorplace.com/2018/11/ctrip-stock-pops-on-q3-revenue-operating-margin-increase/.

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