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Ctrip’s revenue soars 76%
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SHANGHAI-BASED Ctrip said yesterday that its revenue soared 76 percent year on year in the fourth quarter following the acquisition of former rival Qunar by China’s biggest online travel platform.
In the three months ended in December, Ctrip’s revenue jumped to 5.1 billion yuan (US$742 million). Net profit surged to 645 million yuan in the quarter from 76 million yuan a year ago.
Nasdaq-listed Ctrip also predicted revenue to grow 40-50 percent year on year in the first quarter of this year as the company taps the booming demand of Chinese consumers for air tickets, accommodation and tour services.
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