Flash Report 4 minutesRegister for Free AccessCtrip (CTRP) 2Q16 RESULTS: EARNINGS BEAT DUE TO MARKETING COST SAVINGS AND STRONG CHINESE TRAVEL DEMAND Coresight Research September 2, 2016 Executive Summary Ctrip, China’s leading online travel agent, reported in-line 2Q16 revenues of ¥4.41 billion, up 75% year over year. Non-GAAP net profit of ¥0.06 billion beat the consensus estimate of a loss of ¥0.04 billion, but was down 81% year over year due to the consolidation of Qunar. Management guided for net revenue growth of approximately 70–75% year over year for the third quarter of 2016. Chinese outbound travel to Europe weakened due to the events in Istanbul and Nice, but this was partially offset by strong demand for outbound travel to North America. China’s online travel industry is increasingly concentrated and has been shifting to mobile. More than 70% of Ctrip’s orders are generated from the mobile platform. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: VIP Awards 2023: Retail’s Core Is Human and Rooted in Partnership10 Insights from The Lead Innovation Summit 2023: Winning in Retail Through Immersive Experiences and Genuine CareUS, UK, EU & China Quarterly Economic Update, 1Q23: Stronger Economic Indicators Lead to Higher Consumer Spending in the US and UKFive Ways AI Is Being Used in Grocery Retail
