Costs rise but loss narrows for Ctrip
Print Edition
CTRIP.COM International Ltd posted a loss of 126 million yuan (US$20 million) in the first quarter because of surging cost of product development and marketing promotions, China’s No. 1 online tourism service provider said yesterday.
Ctrip’s product development expenses for the first quarter surged 83 percent to 808 million yuan from a year ago. Its sales and marketing expenses jumped 68 percent to 723 million yuan.
But the net loss in the first quarter this year narrowed from a loss of 224 million yuan in the previous three months.
Ctrip actually made a net profit of 115 million yuan in the first quarter a year ago.
Its revenue in the first three months this year was 2.4 billion yuan, a rise of 46 percent year on year and also 21 percent up from the previous quarter in 2014.
For the second quarter, Ctrip expects its revenue to grow by 45 to 50 percent.
Chinese travelers are benefiting from relaxed visa policies by several countries in 2015. The top overseas spots for Chinese white-collar visitors include Japan, the US, New Zealand, Australia and Taiwan, said Travelzoo, a travel industry publisher.
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