Ctrip Q2 revenue surges as int'l business expands
China's online travel agency Ctrip reported a 19 percent increase in revenue for the second quarter of this year, beating market expectations.
Transportation ticketing and accommodation reservations made up the majority of the company's total Q2 net revenue of 8.7 billion yuan (about 1.2 billion U.S. dollars), according to a financial report released Tuesday.
Q2 operating profits reached 1.3 billion yuan, up 84 percent year on year.
The Shanghai-based company saw a robust growth in its international businesses during the period, which accounted for 35 percent of the total revenue.
Chinese made about 81.3 million outbound trips in the first half of this year, up 14 percent year on year, said an earlier report from the China Tourism Academy.
Ctrip predicted a year on year growth rate of up to 15 percent for its net revenue in Q3.
According to Ctrip's CEO Sun Jie, the company is confident about the long-term prospects of the global tourism industry.
"We will continue to expand the range of our products, provide higher quality services and enhance our brand influence both at home and abroad," Sun said.