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Thursday, November 27, 2014

Ctrip's Net Earnings Shrink 42% in Q3

(CRI) Chinese online travel booking website has seen its net profit shrink some 40-percent in the third quarter.

The company says this is because of higher expenses for marketing, along with its investments in wireless services.

Net profits for Ctrip came in at around 35-million US dollars in the third quarter.

Nasdaq-listed Ctrip is predicting revenue growth of 30 percent in the fourth quarter.

But this is weaker than analysts' original expectat ions of 36 percent.

Ctrip has invested heavily to build and upgrade platforms for hotels and airlines, as well as expanding into the mobile sector.

The company's sales and marketing expenses for the third quarter increased nearly 70-percent to around 100-million US dollars.

Source: CRI

from China Travel & Tourism News


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