Ctrip.com International Ltd. (NASDAQ: CTRP) on reported fourth-quarter revenue and earnings that missed analysts’ estimates. The company also posted 2018 revenue outlook that fell short of analysts’ projection.
China’s largest online travel agency said net revenue rose 26 percent to RMB 6.4 billion (US $980 million) in the quarter ended December 31, 2017. For the full year, the company post revenue of $4.1 billion, an 39 percent increase year-on-year.
Fourth-quarter net income was RMB 504 million (US $77 million), compared with RMB 645 million a year earlier.
"We had strong results in the fourth quarter, even as we transitioned through short-term challenges in certain areas of our business," said Jane Sun, Chief Executive Officer. "We continue to execute on our growth strategy and are encouraged with our progress, especially in international expansion and penetration of lower-tier cities. As users increasingly appreciate the convenience of Ctrip's unique one-stop travel platform, we are very excited about the opportunities ahead of us."
For the first quarter of 2018, the company now see revenue growth of approximately 9 to 11 percent, below its 2017 growth of 39 percent.
Ctrip’s shares fell 1.87 percent to $47.79 during the trading session on Thursday. Including today’s decline, the stock was up 8.44 percent this year.