Ctrip (NASDAQ:CTRP) unveiled its latest quarterly earnings results late today, bringing in a profit that increased year-over-year, while sales were also up, surging more than 20%, helping CTRP stock increase after hours Wednesday.
The Chinese provider of travel services said that it posted net revenue of RMB8.2 billion (US$1.2 billion) for its first quarter of its fiscal 2019, marking a 21% increase when compared to the same period a year ago. The company added that income from operations were up by 50% when compared to the year-ago quarter, reaching RMB885 million (US$132 million).
Excluding share-based compensation charges, Ctrip’s income from operations was up 42% year-over-year to RMB1.4 billion (US$204 million) during the period. The company also experienced sustained robust growth momentum from its international businesses.
The Skyscanner direct booking program also had strong momentum as it achieved roughly 250% growth in bookings when compared to the first quarter of 2019. The growth rate of the international hotel business and international air business (excluding the Skyscanner business) during the period more than double when compared to the China outbound traffic growth in the same period.
Revenue generated from international business tallied up to roughly 35% of total revenue.
CTRP stock is up about 4.6% after the bell today following the company’s quarterly earnings results. Shares had been sliding about 0.6% during regular trading hours as Ctrip geared up to report for its first three-month period of the fiscal year.