Ctrip.com Profit Falls; Stock Down 6%

(RTTNews) - Ctrip.com International Ltd (CTRP), a travel service provider of accommodation reservation, said Tuesday its third-quarter net earnings declined to 217 million yuan from 373 million yuan last year.

On a US dollar basis, net income for the quarter was $35 million or $0.22 per American depositary share, or ADS. This compares with a profit of $0.40 per ADS last year.

Excluding items, adjusted earnings for the quarter were $0.36 per ADS, compared with $0.51 per ADS a year ago.

Total revenues for the quarter rose to 2.3 billion yuan from 1.6 billion yuan last year. On a US dollar basis, revenues were $368 million.

Net revenues were 2.1 billion yuan, compared with 1.54 billion yuan last year. On a US dollar basis, net revenues were $347 million.

Analysts polled by Thomson Reuters estimated earnings of $0.20 per share on revenues of $335.7 million for the quarter. Analysts' estimates typically exclude special items.

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