Ctrip.Com International Ltd (ADR)(NASDAQ: CTRP) has reported the adjusted earnings per share of $0.32, beating the analysts’ estimates for the adjusted earnings per share of $0.14 in the fourth quarter 2016 ended 31st December. The company had reported the adjusted revenue growth of 76 percent to $729.80 million in the fourth quarter 2016, beating the analysts’ estimates for revenue of $724.33 million. The starting from December 31st, 2015. The gross margin was 78 percent for the fourth quarter of 2016, as compared to 73 percent in the same period in 2015, and remained consistent with the previous quarter. The adjusted net income attributable to CTRP’s shareholders was RMB1.2 billion (US$178 million), as compared to RMB272 million in the same period in 2015 and RMB581 million in the previous quarter, majorly due to the net gain recognized from investing activities, including the replacement and equity pick-ups from equity investments. As a result, the stock surged over 6.3% on Feb 23rd, 2017 (as of 7:12 AM EST; Source: Google finance).
For the full year 2016, the adjusted net income attributable to CTRP’s shareholders was RMB2.1 billion (US$307 million), as compared to RMB3.2 billion in 2015.
For the first quarter of 2017, Ctrip.Com International expects the net revenue growth to continue at a year-on-year rate of approximately 40-45%. This projection is based on the company’s current and preliminary view, which is subject to change.
In December 2016, Ctrip.Com International has completed the acquisition of Skyscanner Holdings Limited, which is a leading global travel search site headquartered in Edinburgh, the United Kingdom. CTRP has consolidated Skyscanner’s financial results since December 31st, 2016. CTRP has been expanding its global footprint through China’s growing outbound travel demand and the addition of Skyscanner has complemented CTRP’s positioning on a global scale. Skyscanner and Ctrip have planned to share the best practices to unlock the potential of both brands.
Ctrip.Com International has appointed Ms. Jane Jie Sun as Chief Executive Officer and a member of the board of directors of the company.
Ctrip.Com International stock has risen 14.15% in the last one year (source: Google Finance) and generated over 9.8% in the last four weeks. According to tipranks.com, 8 analysts has covered the stock while recommending a “Strong Buy”. CTRP has an average price target of $52.83, which is a further upside of 11.01%.