Ctrip Posts Lower Q1 Profit

(RTTNews) - Ctrip.com International, Ltd. (CTRP) reported net income for the first quarter of RMB115.4 million or RMB0.75 perADS, compared to RMB153.5 million or RMB1.10 per ADS for the year-ago quarter.

Excluding share-based compensation charges, adjusteednet income for the first quarter 2014 was RMB237 million or RMB1.52 per ADS, compared to RMB265 million or RMB1.87 per ADS in the prior year quarter.

Total revenues for the first quarter rose 36% to RMB1.67 billion from RMB1.23 billion a year ago. Net revenue for the quarter increased 36% to RMB1.58 billion.

For the second quarter of 2014, the company expects to continue the net revenue growth year-on-year at a rate of about 30-35%.