Ctrip Earnings: CTRP Stock Surges on Q4 Beat
Ctrip (NASDAQ:CTRP) reported its quarterly earnings results early today, bringing in a profit and revenue that surpassed what Wall Street called for in its consensus estimate, helping to lift CTRP stock nearly 20% on Tuesday.
For its fourth quarter of the fiscal year, the China-based travel services provider amassed earnings of RMB 90 cents per share, well ahead of the loss ofRMB 24 cents per share that analysts polled by Investing.com projected. The figure was also stronger than the company’s year-ago profit of RMB 54 cents per share.
Ctrip added that its sales for the period came in at RMB 7.56 billion, which was stronger than the RMB 7.19 billion that the Wall Street consensus estimate called for. In the year-ago quarter, the business raked in revenue of RMB 6.17 billion.
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For its fiscal 2018, net revenue increased $16 billion, which played a role in pushing it to become the third biggest online travel agency in the planet. The sales growth was fueled greatly by “robust growth momentum” linked with the company’s international business during the year.
For its first quarter of its fiscal 2019, Ctrip projects a revenue growth in the range of 18% to 23% when compared to its year-ago period, according to data compiled in a Bloomberg survey.
CTRP stock was up about 19.8% during its regular trading hours by day’s end on Tuesday following the strong quarterly earnings showing. Shares fell about 0.3% after hours today.
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