Stock Earnings Alert: Ctrip.com International Ltd. (NASDAQ:CTRP)

Ctrip.com International Ltd. (NASDAQ:CTRP) reported earnings for the three months ended March 2016 on June 15, 2016. The company earned $-3.49 per share on revenue of $4.18B. Analysts had been modeling earning per share of $-3.62 with $4.13B in revenue.

Ctrip.com International Ltd. (NASDAQ:CTRP) announced its unaudited financial results for the first quarter ended March 31, 2016.

Highlights for the First Quarter of 2016

  • Net revenues were RMB4.2 billion (US$648 million) for the first quarter of 2016, up 80% year-on-year.
  • Accommodation reservation revenues increased 70% year-on-year, reaching RMB1.6 billion (US$250 million) for the first quarter of 2016.
  • Transportation ticketing revenues increased 106% year-on-year, reaching RMB1.9 billion (US$302 million) for the first quarter of 2016.
  • Gross margin was 73% for the first quarter of 2016, compared to 70% in the same period in 2015, and remained consistent with the previous quarter.
  • Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip’s shareholders was RMB257 million (US$40 million), compared to RMB33 million (US$5 million) in the same period in 2015.

“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.”

First Quarter of 2016 Financial Results and Business Updates

For the first quarter of 2016, Ctrip reported total revenues of RMB4.4 billion (US$682 million), representing an 80% increase from the same period in 2015 and a 45% increase from the previous quarter, primarily due to the consolidation of the financial results of Qunar Cayman Islands Limited (“Qunar”) starting from December 31, 2015.

Accommodation reservation revenues for the first quarter of 2016 were RMB1.6 billion (US$250 million), representing a 70% increase from the same period in 2015 and a 36% increase from the previous quarter, primarily driven by an increase in accommodation reservation volume and the consolidation of Qunar’s financial results since December 31, 2015.

Transportation ticketing revenues for the first quarter of 2016 were RMB1.9 billion (US$302 million), representing a 106% increase from the same period in 2015 and a 57% increase from the previous quarter, primarily driven by an increase in ticketing volume and the consolidation of Qunar’s financial results since December 31, 2015.

Packaged-tour revenues for the first quarter of 2016 were RMB556 million (US$86 million), representing a 41% increase from the same period in 2015 and a 59% increase from the previous quarter, primarily driven by an increase in volume growth of organized tours and self-guided tours.

Corporate travel revenues for the first quarter of 2016 were RMB116 million (US$18 million), representing a 25% increase from the same period in 2015, primarily driven by increased corporate travel demand from business activities. Corporate travel revenues decreased by 15% from the previous quarter, primarily due to seasonality.For the first quarter of 2016, net revenues were RMB4.2 billion (US$648 million), representing an 80% increase from the same period in 2015. Net revenues for the first quarter of 2016 increased by 45% from the previous quarter.

Ctrip.com International Ltd. earnings per share showed an increasing trend of 794.8% for the current fiscal year. The company’s expected EPS growth rate for next fiscal year is 59%.Analysts project EPS growth over the next 5 years at 10.17%. It has EPS annual growth over the past 5 fiscal years of 15.3% when sales grew 30.5. It reported 50.2% sales growth, and 126.2% EPS growth in the last quarter.

The stock is trading at $40.65, up 49.17% from 52-week low of $27.25. The stock trades down -29.13% from its peak of $57.36 and % below the consensus price target of $49.8. Its volume clocked up at 3.96 million shares which is lower than the average volume of 4.71 million shares. Its market capitalization currently stands at $18.15B.

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