Ctrip.com (CTRP) is an old favorite of ours, probably the first Chinese based stock we ever owned and last night they delivered a stellar earnings report. It has been off our radar of late so I had missed its recent (beautiful) breakout... the chart looks like this and that is without the 8% it tacked on in after hours. It is now trading in the $71s...
Some color on their earnings, with full report here.
- Ctrip.com International Ltd., a Chinese travel service provider, said Wednesday its third-quarter profit rose 80 percent on higher revenues from hotel and flight reservations and tour bookings. The company, based in Shanghai, earned 188.5 million yuan ($27.6 million), or 2.65 yuan (39 cents) per share, in the quarter that ended Sept. 30. That is up from the 104.5 million yuan, or 1.52 yuan per share, a year earlier. Adjusted per-share profit of 3.03 yuan (44 cents) per share beat a 32 cent per share prediction of analysts polled by Thomson Reuters.
- Revenue rose 47 percent to 583.4 million yuan ($85.5 million) from 397 million yuan. Analysts had expected $72.2 million in revenue.
- The company said hotel reservations rose 41 percent, flight bookings rose 45 percent and packaged tour revenues rose 93 percent over a year earlier.
- It also said it expects fourth-quarter revenue to grow by 25 percent to 30 percent.
Ctrip.com International, Ltd. is a leading travel service provider of hotel accommodations, airline tickets and packaged tours in China. Ctrip aggregates information on hotels and flights and enables customers to make informed and cost-effective hotel and flight bookings. Ctrip also sells packaged tours that include transportation and accommodations, as well as guided tours in some instances. Ctrip targets primarily business and leisure travelers in China who do not travel in groups. These travelers form a traditionally under-served yet fast-growing segment of the travel industry in China.