Ctrip net revenues up 46% in Q1 2015
Ctrip.com announced its net revenues were RMB2.3 billion for Q1 2015, up 46% y-o-y.
SHANGHAI, May 13, 2015 /PRNewswire/ -- Ctrip.com International, Ltd., a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China announced its unaudited financial results for the first quarter ended March 31, 2015.
Highlights for the First Quarter of 2015
Net revenues were RMB2.3 billion (US$373 million) for the first quarter of 2015, up 46% year-on-year.
Accommodation reservation volume increased 60% year-on-year, and accommodation reservation revenues increased 45% year-on-year, reaching RMB952 million (US$154 million) for the first quarter of 2015.
Transportation ticketing volume increased 104% year-on-year, and transportation ticketing revenues increased 46% year-on-year, reaching RMB948 million (US$153 million) for the first quarter of 2015.
Gross margin was 70% for the first quarter of 2015, compared to 72% in the same period in 2014, and 69% in the previous quarter.
Net Loss attributable to Ctrip's shareholders was RMB126 million (US$20 million) for the first quarter of 2015, compared to net income attributable to Ctrip's shareholders of RMB115 million(US$19 million) in the same period in 2014. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip's shareholders was RMB33 million (US$5 million), compared to net income attributable to Ctrip's shareholders of RMB237 million (US$38 million) in the same period in 2014.
Diluted earnings per ADS were RMB-0.90 (US$-0.15) for the first quarter of 2015. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB0.23 (US$0.04) for the first quarter of 2015.
Share-based compensation charges were RMB159 million (US$26 million), accounting for 7% of the net revenues, or RMB1.13 (US$0.19) per ADS for the first quarter of 2015.
"We are pleased with the strong results delivered in the first quarter of 2015," said James Liang, Chairman of the Board and Chief Executive Officer of Ctrip. "Accommodation reservation and transportation ticketing services reached 60% and 104% year-over-year growth in volume, respectively. Total air tickets sold increased 64% on a yearly basis, a new record high. The investments that we have made over the past few years continue to gain strong momentum and the majority of our new initiatives grew 200%~800% year-over-year in the first quarter. Cumulative mobile app downloads reached approximately 800 million by the end of first quarter, an increase of over 550% from a year ago. Mobile channels accounted for around 70% of total online transactions this quarter. We look forward to seeing greater achievements in the coming quarters with our growth strategy and solid execution in technology, products and services."
For the second quarter of 2015, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 45-50%. This forecast reflects Ctrip's current and preliminary view, which is subject to change.
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