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: Weekly US and UK Store Openings and Closures Tracker 2023, Week 12: US Closures Up by One-Quarter Year over YearJune 2023 US Housing Market Indicators: New Home Sales Continue To ShineGroceryshop 2023 Day Three: Opportunities in Grocery in 2023 and BeyondMarket Outlook: Department Stores in China—Consumer Shift Toward E-Commerce Squeezes Sales