Ctrip.com (CTRP) Posts Smaller Q1 Loss; Sees Revs Up 70-75% in Q2
Ctrip.com (NASDAQ: CTRP) reported Q1 EPS of (RMB3.49) (US$-0.54), RMB0.13 better than the analyst estimate of (RMB3.62). Revenue for the quarter rose 80% to RMB4.2 billion (US$648 million) versus the consensus estimate of RMB4.14 billion.
"The first quarter of 2016 was a great quarter. Our team did an excellent job growing revenue and improving margins," said James Liang, Chairman of the Board and Chief Executive Officer of Ctrip. "Going forward, we plan to devote more resources to innovation and outbound travel to build a solid foundation for our sustainable long-term growth."
For the second quarter of 2016, the Company expects the net revenue growth to continue at a year-on-year rate of approximately 70-75%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.
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