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What: Shares of Ctrip.com traveled higher today, up by as much as 26% after the company posted a solid earnings beat.
So what: Revenue in the second quarter totaled $203 million, easily trouncing the consensus estimate of $190.4 million. The $0.36 per share in adjusted profit also made short work of the $0.17 per share that investors expected.
Now what: CEO James Liang said the company is navigating the transition to mobile platforms effectively, and transactions through mobile channels tripled year over year. Mobile transactions contributed to more than 20% of hotel bookings and 15% of air ticket bookings. Third-quarter sales growth is expected to continue at 20% to 25% relative to the prior year.
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The article Why Ctrip.com Shares Traveled Higher originally appeared on Fool.com.Fool contributor Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Ctrip.com International. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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