Ctrip.Com International (NASDAQ:CTRP) reported better-than-expected results for its fourth quarter on Monday.
The Shanghai-based CTRP, a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management today announced net revenue increased by 22% year-on-year to RMB7.6 billion ($1.1 billion U.S.) in the fourth quarter of 2018.
In Q4 2018, revenue generated from international business makes up 30%~35% of group level revenue. Both international hotel business and international air business excluding Skyscanner tripled the industry growth in the fourth quarter of 2018.
CEO Jane Sun said, "The solid results in the fourth quarter of 2018 ended the year on a strong note. Over the year, despite various challenges, we focused on developing innovative new products, offering increased support to our suppliers, and most importantly, putting the customer at the center of everything we do. As a result, we accelerated the pace which we are gaining market share.
“Transacting users for our China brands continued to grow and now total 135 million, which represents a 25% CAGR increase over the past two years. GMV continued to grow at 30% year-on-year, which puts us well on track to reach our 2020 target."
Accommodation reservation revenue for the fourth quarter of 2018 was RMB2.7 billion ($386 million U.S.), representing a 22% increase from the same period in 2017, primarily driven by an increase in accommodation reservation volume.
Accommodation reservation revenue for the fourth quarter of 2018 decreased by 27% from the previous quarter, "primarily due to seasonality," according to Monday’s news release.
Shares vaulted $4.66, or 13.3%, to $39.65, in Tuesday’s first hour of trade
