Ctrip.com International says 3rd-quarter profit rose 80 percent on higher sales; shares jump

Associated Press

Last update: November 11, 2009 - 6:36 PM

SHANGHAI - Ctrip.com International Ltd., a Chinese travel service provider, said Wednesday its third-quarter profit rose 80 percent on higher revenues from hotel and flight reservations and tour bookings.

Its shares jumped in aftermarket trading.

The company, based in Shanghai, earned 188.5 million yuan ($27.6 million), or 2.65 yuan (39 cents) per share, in the quarter that ended Sept. 30. That is up from the 104.5 million yuan, or 1.52 yuan per share, a year earlier.

Adjusted per-share profit of 3.03 yuan (44 cents) per share beat a 32 cent per share prediction of analysts polled by Thomson Reuters.

Revenue rose 47 percent to 583.4 million yuan ($85.5 million) from 397 million yuan. Analysts had expected $72.2 million in revenue.

The company said hotel reservations rose 41 percent, flight bookings rose 45 percent and packaged tour revenues rose 93 percent over a year earlier.

It also said it expects fourth-quarter revenue to grow by 25 percent to 30 percent.

Ctrip.com shares rose $8.21, or 13 percent, to $72.50 in after-hours trading Wednesday after closing at $64.29, down 91 cents from a day earlier.

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