During the second quarter of 2014, approximately 80% of Ctrip’s total transactions were booked online or through mobile channels according to its official announced unaudited financial results.
The number of Ctrip Mobile App downloads has reached 200 million, growing at a rate of 60% quarter-over-quarter. Total mobile transaction value for the second quarter of 2014 more than tripled from a year ago and the peak daily transaction value exceeded RMB220 million (US$35.7 million) recently.
Highlights for the Second Quarter of 2014 Performance of Ctrip
- Net revenues were RMB1.7 billion (US$278 million) for the second quarter of 2014, up 38% year-on-year, exceeding our net revenue guidance for the second quarter 2014 of 30-35% increase year-on-year.
- Accommodation reservation revenues increased 47% year-on-year, reaching RMB753 million (US$121 million) for the second quarter of 2014, and accommodation reservation volume increased 64% year-on-year, exceeding our guidance of 50-60% volume increase year-on year.
- Transportation ticketing revenues increased 39% year-on-year, reaching RMB726 million (US$117 million) for the second quarter of 2014, and transportation ticketing volume increased 83% year-on-year, exceeding our guidance of 50-60% volume increase year-on year.
- Gross margin was 72% for the second quarter of 2014, compared to 75% in the same period in 2013, and remained consistent with that in the previous quarter.
- Income from operations was RMB91 million (US$15 million) for the second quarter of 2014, down 54% year-on-year. Excluding share-based compensation charges (non-GAAP), income from operations was RMB202 million (US$33 million), down 34% year-on-year.
- Operating margin was 5% for the second quarter of 2014, compared to 16% in the same period in 2013 and 4% in the previous quarter. Excluding share-based compensation charges (non-GAAP), operating margin was 12%, compared to 25% in the same period in 2013, and remained consistent with that in the previous quarter.
- Net income attributable to Ctrip’s shareholders was RMB135 million (US$22 million) for the second quarter of 2014, down 36% year-on-year. Excluding share-based compensation charges (non-GAAP), net income attributable to Ctrip’s shareholders was RMB246 million (US$40 million), down 23% year-on-year.
- Diluted earnings per ADS were RMB0.88 (US$0.14) for the second quarter of 2014. Excluding share-based compensation charges (non-GAAP), diluted earnings per ADS were RMB1.58 (US$0.26) for the second quarter of 2014.
- Share-based compensation charges were RMB111 million (US$18 million), accounting for 6% of the net revenues, orRMB0.7 (US$0.12) per ADS for the second quarter of 2014.
Early this month, Priceline Group announced plan to invest $500 million in Chinese online travel company Ctrip.com.
Source: Ctrip