Ctrip.com Q2 Profit Surges

(RTTNews) - Ctrip.com International, Ltd. (CTRP), a travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China, reported that its net income attributable to shareholders for the second quarter of 2018 was RMB2.4 billion or US$360 million, compared to RMB359 million for the same period in 2017, primary due to the gains from the equity securities measured at fair value and investing activities.

Excluding share-based compensation charges and fair value changes of equity securities investments, Non-GAAP net income attributable to Ctrip's shareholders was RMB1.1 billion or US$168 million, compared to RMB887 million in the same period in 2017..

Earnings per ADS were RMB3.89 or US$0.59 for the second quarter of 2018. Excluding share-based compensation charges and fair value changes of equity securities investments, Non-GAAP earnings per ADS were RMB1.90 or US$0.29 for the second quarter of 2018.

Net revenue was RMB7.3 billion or US$1.1 billion, representing a 13% increase from the same period in 2017.

For the third quarter of 2018, the company expects the net revenue growth to continue at a year-on-year rate of approximately 13%-18%, which is calculated on the estimated net revenue of the third quarter of 2018 under the new revenue recognition standard and the net revenue of the third quarter of 2017 retrospectively adjusted.