Ctrip.com Int'l (CTRP) Tops Q1 Views

Ctrip.com Int'l (NASDAQ: CTRP) reported Q1 EPS of $0.12, or $0.24 ex-items, both above the analyst estimate of $0.11. Revenue for the quarter came in at $254 million versus the consensus estimate of $244.54 million.

"We are pleased to report the great performance in the first quarter of 2014," said James Liang, Chairman and Chief Executive Officer of Ctrip. "We recently expanded our traditional hotel reservation and ticketing services to accommodation reservation and transportation ticketing services. The growth of both businesses is on the accelerating track with volume increasing 67% and 71% year-on-year, respectively. Total mobile transaction value was over four times the level in the first quarter of 2013 with peak daily transaction value reaching about RMB150 million. Mobile has surpassed PC Internet to be the most important booking platform for our accommodation reservation business, contributing over 40% of our transactions during the quarter and over 60% on the peak day. We are also very proud to see our new businesses start to take leading positions. For example, Ctrip Travel Community Channel experienced over 300% year-on-year growth in daily unique visitors and became the top player among travel information and community websites in China.

"In addition, we recently became the second largest shareholder of LY.com and one of anchor investors for Tuniu.com in connection with its proposed IPO. As a leading player in the online and mobile travel market in China, we are seeing great potential in the industry. LY.com is a leading player in the local attraction ticket segment and Tuniu.com is strong in leisure package tour business. Ctrip is looking forward to working together with industry peers to create greater value for our customers and partners and to help develop a healthy and flourishing travel industry in China."

Business Outlook

For the second quarter of 2014, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 30-35%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.

For earnings history and earnings-related data on Ctrip.com Int'l (CTRP) click here.

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