SHANGHAI, Nov. 7, 2018 /PRNewswire/ -- Ctrip.com
International, Ltd. (Nasdaq: CTRP), a leading travel service
provider of accommodation reservation, transportation ticketing,
packaged tours and corporate travel management in China ("Ctrip" or the "Company"), today
announced its unaudited financial results for the third quarter
ended September 30, 2018.
Key Highlights for the Third Quarter of 2018
- Ctrip reported solid financial results in the third quarter of
2018.
- Net revenue increased by 15% year-on-year to RMB9.4 billion (US$1.4
billion) for the third quarter of 2018, which also
represents an increase by 28% from the previous quarter.
- Operating margin was 16% for the third quarter of 2018 compared
to 10% for the previous quarter. Excluding share-based compensation
charges, Non-GAAP operating margin was 20% for the third quarter of
2018, compared to 16% for the previous quarter.
- Ctrip's international businesses sustained robust growth
momentum.
- Excluding Skyscanner, international
air businesses growth almost tripled the industry
growth.
- Skyscanner's direct booking program continues to gain momentum,
delivering around 250% revenue growth year-on-year in the third
quarter.
- Ctrip increased its presence in lower-tier cities.
- Ctrip brand's low-star hotel room-night growth accelerated to
approximately 50% year-on-year in the third quarter.
- Total gross merchandise value of the offline stores grew over
80% year-on-year in the third quarter.
- The Company strengthened its partnership with suppliers.
- In China, the number of hotels
with guaranteed room allotments increased by approximately 160%
year-over-year.
"Ctrip reported solid results in the third quarter of 2018,"
said Jane Sun, Chief Executive
Officer. "We are seeing our large, growing and loyal customer base
continue to increase their engagements on Ctrip. We are selling
more travel products across our customer's travel itinerary. With
our strong foundation in the travel industry, despite the ongoing
macro uncertainty, we are confident that we are the best travel
company to capture more travel market share going forward."
"Ctrip continued making solid progress in each of our business
area in the third quarter of 2018," said James Liang, Executive Chairman. "We have
established a strong track record and are committed to continuing
riding the travel growth wave: during high tides, we can boost our
scale and profitability; and during low tides, we can extend our
competitive advantages and accelerate market share gain. We will
continue to work hard to extend the advantages of scale, while
seizing the opportunities presented by globalization to drive
Ctrip's long-term success."
Third Quarter of 2018 Financial Results and Business
Updates
For the third quarter of 2018, Ctrip reported net revenue of
RMB9.4 billion (US$1.4 billion), representing a 15% increase from
the same period in 2017. Net revenue for the third quarter of 2018
increased by 28% from the previous quarter.
Accommodation reservation revenue for the third quarter of 2018
was RMB3.6 billion (US$528 million), representing a 21% increase from
the same period in 2017, primarily driven by an increase in
accommodation reservation volume. Accommodation reservation revenue
for the third quarter of 2018 increased by 29% from the previous
quarter, primarily due to seasonality.
Transportation ticketing revenue for the third quarter of 2018
was RMB3.6 billion (US$527 million), representing a 6% increase from
the same period in 2017. Transportation ticketing revenue increased
by 20% from the previous quarter, primarily due to seasonality.
Packaged tour revenue for the third quarter of 2018 was
RMB1.4 billion (US$201 million), representing a 28% increase from
the same period in 2017, primarily driven by an increase in volume
growth of organized tours and self-guided tours. Packaged tour
revenue for the third quarter of 2018 increased by 64% from the
previous quarter, primarily due to seasonality.
Corporate travel revenue for the third quarter of 2018 was
RMB267 million (US$39 million), representing a 31% increase from
the same period in 2017, primarily driven by expansion in travel
product coverage. Corporate travel revenue for the third quarter of
2018 increased by 5% from the previous quarter.
Gross margin was 79% for the third quarter of 2018, compared to
84% for the same period in 2017, and 80% for the previous
quarter.
Product development expenses for the third quarter of 2018
increased by 14% to RMB2.5 billion
(US$363 million) from the same period
in 2017 and increased by 11% from the previous quarter, primarily
due to the increase in product development personnel related
expenses. Product development expenses for the third quarter of
2018 accounted for 27% of the net revenue. Excluding share-based
compensation charges, non-GAAP product development expenses for the
third quarter of 2018 accounted for 24% of the net revenue, which
remained consistent with the same period in 2017 and decreased from
27% for the previous quarter.
Sales and marketing expenses for the third quarter of 2018
increased by 14% to RMB2.7 billion
(US$394 million) from the same period
in 2017 and increased by 23% from the previous quarter, primarily
due to an increase in sales and marketing related activities. Sales
and marketing expenses for the third quarter of 2018 accounted for
29% of the net revenue. Excluding share-based compensation charges,
non-GAAP sales and marketing expenses for the third quarter of 2018
accounted for 29% of the net revenue, which remained consistent
with the same period in 2017 and the previous quarter.
General and administrative expenses for the third quarter of
2018 increased by 2% to RMB688
million (US$100 million) from
the same period in 2017. General and administrative expenses for
the third quarter of 2018 increased by 1% from the previous
quarter. General and administrative expenses for the third quarter
of 2018 accounted for 7% of the net revenue. Excluding share-based
compensation charges, non-GAAP general and administrative expenses
accounted for 6% of the net revenue, which decreased from 7% for
the same period in 2017 and the previous quarter.
Income from operations for the third quarter of 2018 was
RMB1.5 billion (US$215 million), compared to RMB1.6 billion for the same period in 2017 and
RMB724 million for the previous
quarter. Excluding share-based compensation charges, Non-GAAP
income from operations was RMB1.9
billion (US$274 million),
compared to RMB2.0 billion for the
same period in 2017 and RMB1.2
billion for the previous quarter.
Operating margin was 16% for the third quarter of 2018, compared
to 19% for the same period in 2017, and 10% for the previous
quarter. Excluding share-based compensation charges, Non-GAAP
operating margin was 20%, compared to 24% for the same period in
2017 and 16% for the previous quarter.
Income tax expense for the third quarter of 2018 was
RMB257 million (US$37 million), compared to RMB368 million for the same period of 2017 and
RMB322 million for the previous
quarter. The change in our effective tax rate primarily reflects
certain non-taxable loss of the fair value changes in equity
securities investments.
Net loss attributable to Ctrip's shareholders for the third
quarter of 2018 was RMB1.1 billion
(US$165 million), compared to net
income of RMB1.4 billion for the same
period in 2017 and RMB2.4 billion for
the previous quarter, primary due to the losses from the equity
securities investments measured at fair value. Excluding
share-based compensation charges and fair value changes of equity
securities investments, Non-GAAP net income attributable to Ctrip's
shareholders was RMB1.7 billion
(US$254 million), compared to
RMB1.8 billion in the same period in
2017 and RMB1.1 billion in the
previous quarter.
Diluted losses per ADS were RMB2.08 (US$0.30)
for the third quarter of 2018. Excluding share-based compensation
charges and fair value changes of equity securities investments,
Non-GAAP diluted earnings per ADS were RMB2.88 (US$0.42)
for the third quarter of 2018.
As of September 30, 2018, the
balance of cash and cash equivalents, restricted cash and
short-term investments was RMB63.3
billion (US$9.2 billion).
Business Outlook
For the fourth quarter of 2018, the Company expects the net
revenue growth to continue at a year-on-year rate of approximately
15-20%, which is calculated on the estimated net revenue of the
fourth quarter of 2018 under the new revenue recognition standard
and the net revenue of the fourth quarter of 2017 retrospectively
adjusted. This forecast reflects Ctrip's current and preliminary
view, which is subject to change.
Conference Call
Ctrip's management team will host a conference call at
7:00PM U.S. Eastern Time on
November 7, 2018 (or 8:00AM on November 8,
2018 in the Shanghai/Hong
Kong Time) following the announcement.
The conference call will be available on Webcast live and replay
at http://ir.ctrip.com. The call will be archived for twelve months
at this website.
Listeners may access the call by dialing the following
numbers:
US:
|
+1-855-8219-305 or
+1-240-254-3156
|
Hong Kong:
|
+852-
3077-3569
|
China:
|
800-820-8527 or
400-612-6501
|
International:
|
+65-6653-5870
|
Passcode:
|
93154456#
|
For pre-registration, please click
http://event.onlineseminarsolutions.com/wcc/r/1863193-1/C8400B3C54FBA76F7327C3A19D432BAA
A telephone replay of the call will be available after the
conclusion of the conference call until November 14, 2018. The dial-in details for the
replay:
International dial-in
number:
|
+65-6653-5846
|
Passcode:
|
515091147#
|
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"may," "will," "expect," "anticipate," "future," "intend," "plan,"
"believe," "estimate," "is/are likely to," "confident" or other
similar statements. Among other things, quotations from management
and the Business Outlook section in this press release, as well as
Ctrip's strategic and operational plans, contain forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, but are not limited to, severe or prolonged downturn in
the global or Chinese economy, general declines or disruptions in
the travel industry, volatility in the trading price of Ctrip's
ADSs, Ctrip's reliance on its relationships and contractual
arrangements with travel suppliers and strategic alliances, failure
to compete against new and existing competitors, failure to
successfully manage current growth and potential future growth,
risks associated with any strategic investments or acquisitions,
seasonality in the travel industry in the relevant jurisdictions
where Ctrip operates, failure to successfully develop Ctrip's
existing or future business lines, damage to or failure of Ctrip's
infrastructure and technology, loss of services of Ctrip's key
executives, adverse changes in economic and political policies of
the PRC government, inflation in China, risks and uncertainties associated with
PRC laws and regulations with respect to the ownership structure of
Ctrip's affiliated Chinese entities and the contractual
arrangements among Ctrip, its affiliated Chinese entities and their
shareholders, and other risks outlined in Ctrip's filings with the
U.S. Securities and Exchange Commission. All information provided
in this press release and in the attachments is as of the date of
the issuance, and Ctrip does not undertake any obligation to update
any forward-looking statement, except as required under applicable
law.
About Non-GAAP Financial Measures
To supplement Ctrip's unaudited condensed consolidated financial
statements presented in accordance with United States Generally
Accepted Accounting Principles ("GAAP"), Ctrip uses Non-GAAP
financial information related to product development expenses,
sales and marketing expenses, general and administrative expenses,
income from operations, operating margin, net income attributable
to Ctrip's shareholders, and diluted earnings per ordinary share
and per ADS, each of which (except for net commission earned) is
adjusted from the most comparable GAAP result to exclude the
share-based compensation charges recorded under ASC 718,
"Compensation-Stock Compensation" and its share-based compensation
charges are not tax deductible, and fair value changes of equity
securities investments, net of tax, recorded under ASU 2016-1.
Ctrip's management believes the Non-GAAP financial measures
facilitate better understanding of operating results from quarter
to quarter and provide management with a better capability to plan
and forecast future periods.
Non-GAAP information is not prepared in accordance with GAAP and
may be different from Non-GAAP methods of accounting and reporting
used by other companies. The presentation of this additional
information should not be considered a substitute for GAAP results.
A limitation of using Non-GAAP financial measures is that Non-GAAP
measures exclude share-based compensation charges and fair value
changes of equity securities investments that have been and will
continue to be significant recurring expenses in Ctrip's business
for the foreseeable future.
Reconciliations of Ctrip's Non-GAAP financial data to the most
comparable GAAP data included in the consolidated statement of
operations are included at the end of this press release.
About Ctrip.com International, Ltd.
Ctrip.com International, Ltd. is a leading travel service
provider of accommodation reservation, transportation ticketing,
packaged tours, and corporate travel management in China. It is the largest online consolidator
of accommodations and transportation tickets in China in terms of transaction volume. Ctrip
enables business and leisure travelers to make informed and
cost-effective bookings by aggregating comprehensive travel related
information and offering its services through an advanced
transaction and service platform consisting of its mobile apps,
Internet websites and centralized, toll-free, 24-hour customer
service center. Ctrip also helps customers book vacation packages
and guided tours. In addition, through its corporate travel
management services, Ctrip helps corporate clients effectively
manage their travel requirements. Since its inception in 1999,
Ctrip has experienced substantial growth and become one of the
best-known travel brands in China.
For further information, please contact:
Investor Relations
Ctrip.com International, Ltd.
Tel: (+86) 21 3406 4880 X 196455
Email: iremail@ctrip.com
Ctrip.com
International, Ltd.
|
Unaudited
Consolidated Balance Sheets
|
|
|
|
|
|
|
|
December
31, 2017
|
|
September
30, 2018
|
|
September
30, 2018
|
|
RMB
(million)
|
|
RMB
(million)
|
|
USD
(million)
|
|
|
|
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
18,243
|
|
21,490
|
|
3,129
|
Restricted
cash
|
1,749
|
|
3,990
|
|
581
|
Short-term
investments
|
28,130
|
|
37,793
|
|
5,503
|
Accounts receivable,
net *
|
4,749
|
|
6,797
|
|
990
|
Prepayments and other
current assets
|
6,547
|
|
14,394
|
|
2,096
|
|
|
|
|
|
|
Total current
assets
|
59,418
|
|
84,464
|
|
12,299
|
|
|
|
|
|
|
Long-term deposits
and prepayments
|
840
|
|
690
|
|
100
|
Land use
rights
|
97
|
|
95
|
|
14
|
Property, equipment
and software
|
5,616
|
|
5,837
|
|
850
|
Investments
|
25,574
|
|
25,416
|
|
3,701
|
Goodwill
|
56,246
|
|
58,107
|
|
8,461
|
Intangible
assets
|
13,750
|
|
13,768
|
|
2,005
|
Other long-term
receivable
|
237
|
|
229
|
|
33
|
Deferred tax
assets
|
462
|
|
764
|
|
111
|
|
|
|
|
|
|
Total
assets
|
162,240
|
|
189,370
|
|
27,574
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Short-term debt and
current portion of long-term debt
|
16,316
|
|
36,026
|
|
5,245
|
Accounts
payable
|
7,459
|
|
13,599
|
|
1,980
|
Salary and welfare
payable
|
3,465
|
|
3,111
|
|
453
|
Taxes
payable
|
927
|
|
1,236
|
|
180
|
Advances from
customers
|
7,868
|
|
7,823
|
|
1,139
|
Accrued liability for
customer reward program
|
610
|
|
533
|
|
78
|
Other payables and
accruals
|
5,517
|
|
6,737
|
|
981
|
|
|
|
|
|
|
Total current
liabilities
|
42,162
|
|
69,065
|
|
10,056
|
|
|
|
|
|
|
Deferred tax
liabilities *
|
3,895
|
|
3,865
|
|
563
|
Long-term
debt
|
29,220
|
|
26,062
|
|
3,795
|
Other long-term
liabilities
|
348
|
|
391
|
|
57
|
|
|
|
|
|
|
Total
liabilities
|
75,625
|
|
99,383
|
|
14,471
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
Total Ctrip.com
International, Ltd. shareholders' equity
|
84,836
|
|
87,756
|
|
12,778
|
|
|
|
|
|
|
Non-controlling
interests
|
1,779
|
|
2,231
|
|
325
|
|
|
|
|
|
|
Total
shareholders' equity
|
86,615
|
|
89,987
|
|
13,103
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
162,240
|
|
189,370
|
|
27,574
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ctrip.com
International, Ltd.
|
Unaudited
Consolidated Statements of Comprehensive Income
|
|
|
|
|
|
|
|
|
|
Quarter
Ended
|
|
Quarter
Ended
|
|
Quarter
Ended
|
|
Quarter
Ended
|
|
September
30, 2017
|
|
June
30, 2018
|
|
September
30, 2018
|
|
September
30, 2018
|
|
RMB
(million)
|
|
RMB
(million)
|
|
RMB
(million)
|
|
USD
(million)
|
|
|
|
|
|
|
|
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
|
|
|
|
|
|
|
Revenue*:
|
|
|
|
|
|
|
|
Accommodation
reservation
|
2,998
|
|
2,810
|
|
3,627
|
|
528
|
Transportation
ticketing
|
3,428
|
|
3,024
|
|
3,621
|
|
527
|
Packaged-tour
|
1,075
|
|
839
|
|
1,378
|
|
201
|
Corporate
travel
|
203
|
|
255
|
|
267
|
|
39
|
Others
|
472
|
|
429
|
|
503
|
|
73
|
|
|
|
|
|
|
|
|
Total
revenue
|
8,176
|
|
7,357
|
|
9,396
|
|
1,368
|
|
|
|
|
|
|
|
|
Less: Sales tax and
surcharges
|
(57)
|
|
(38)
|
|
(41)
|
|
(6)
|
|
|
|
|
|
|
|
|
Net
revenue
|
8,119
|
|
7,319
|
|
9,355
|
|
1,362
|
|
|
|
|
|
|
|
|
Cost of
revenue
|
(1,303)
|
|
(1,469)
|
|
(1,991)
|
|
(290)
|
|
|
|
|
|
|
|
|
Gross
profit
|
6,816
|
|
5,850
|
|
7,364
|
|
1,072
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
Product development
***
|
(2,185)
|
|
(2,251)
|
|
(2,491)
|
|
(363)
|
Sales and marketing
***
|
(2,378)
|
|
(2,191)
|
|
(2,705)
|
|
(394)
|
General and
administrative ***
|
(674)
|
|
(684)
|
|
(688)
|
|
(100)
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
(5,237)
|
|
(5,126)
|
|
(5,884)
|
|
(857)
|
|
|
|
|
|
|
|
|
Income from
operations
|
1,579
|
|
724
|
|
1,480
|
|
215
|
|
|
|
|
|
|
|
|
Interest
income
|
272
|
|
324
|
|
521
|
|
76
|
Interest
expense
|
(319)
|
|
(371)
|
|
(393)
|
|
(57)
|
Other income/(loss)
**
|
233
|
|
2,256
|
|
(2,625)
|
|
(382)
|
|
|
|
|
|
|
|
|
Income/(loss)
before income tax expense, equity
in income of affiliates and non-controlling
interests
|
1,765
|
|
2,933
|
|
(1,017)
|
|
(148)
|
|
|
|
|
|
|
|
|
Income tax
expense * / **
|
(368)
|
|
(322)
|
|
(257)
|
|
(37)
|
Equity in
income/(loss) of affiliates
|
32
|
|
(213)
|
|
169
|
|
25
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
1,429
|
|
2,398
|
|
(1,105)
|
|
(160)
|
|
|
|
|
|
|
|
|
Net (income)
attributable to non-controlling interests
|
(35)
|
|
(17)
|
|
(34)
|
|
(5)
|
|
|
|
|
|
|
|
|
Net income/(loss)
attributable to Ctrip.com
International, Ltd.
|
1,394
|
|
2,381
|
|
(1,139)
|
|
(165)
|
|
|
|
|
|
|
|
|
Comprehensive
income/(loss) attributable to
Ctrip.com International, Ltd. **
|
3,002
|
|
1,443
|
|
(1,561)
|
|
(227)
|
|
|
|
|
|
|
|
|
Earnings/(losses) per
ordinary share
|
|
|
|
|
|
|
|
- Basic
|
20.81
|
|
34.84
|
|
(16.62)
|
|
(2.42)
|
- Diluted
|
18.86
|
|
31.09
|
|
(16.62)
|
|
(2.42)
|
|
|
|
|
|
|
|
|
Earnings/(losses) per
ADS
|
|
|
|
|
|
|
|
- Basic
|
2.60
|
|
4.36
|
|
(2.08)
|
|
(0.30)
|
- Diluted
|
2.36
|
|
3.89
|
|
(2.08)
|
|
(0.30)
|
|
|
|
|
|
|
|
|
Weighted average
ordinary shares outstanding
|
|
|
|
|
|
|
|
- Basic
|
66,988,804
|
|
68,351,426
|
|
68,518,501
|
|
68,518,501
|
- Diluted
|
78,630,110
|
|
80,424,419
|
|
68,518,501
|
|
68,518,501
|
- Diluted-non
GAAP
|
80,455,948
|
|
75,802,146
|
|
80,394,301
|
|
80,394,301
|
|
|
|
|
|
|
|
|
*** Share-based
compensation included in Operating expenses above is as
follows:
|
Product
development
|
210
|
|
268
|
|
217
|
|
32
|
Sales and
marketing
|
38
|
|
44
|
|
36
|
|
5
|
General and
administrative
|
136
|
|
168
|
|
148
|
|
22
|
|
|
|
|
|
|
|
|
** Fair value changes
of equity securities investments included in Net income/(loss) is
as follow:
|
Fair value
(income)/loss of equity securities investments, net of
tax
|
-
|
|
(1,750)
|
|
2,470
|
|
360
|
|
|
|
|
|
|
|
|
** The Company
adopted the new financial instruments accounting standard from
January 1, 2018 and approximately RMB6 billion of accumulated
other
comprehensive income for the available-for-sale equity securities
that existed as of December 31, 2017 was reclassified into retained
earnings upon the
initial adoption. After the adoption of this new accounting
standard, the Company measured its available-for-sale equity
securities at fair value with gains
or losses recorded through the income statements, which could vary
significantly from quarter to quarter. The impact of applying this
new standard for the
third quarter of 2018 resulted in an increase of approximately
RMB2.6 billion in pre tax loss, net of tax of RMB0.1
billion.
* The new revenue
standard (ASC 606) was effective from January 1, 2018 and the
revenue of 2018 was reported under new standard. We adopt the
full
retrospective approach under which, the revenue and other major
line items of consolidated statements of comprehensive income and
related items of balance
sheet of the comparable periods were restated accordingly. The
impact of applying this new standard for the third quarter of 2017
resulted in an increase of
approximately RMB220 million in net revenue. Meanwhile, as of
December 31, 2017, accounts receivable and retained earnings
increased with approximately
RMB190 million. Deferred tax liabilities as of December 31, 2017
and income tax expenses of the third quarter of 2017 were restated
accordingly.
|
Ctrip.com
International, Ltd.
|
|
Reconciliation
of GAAP and Non-GAAP Results
|
|
(In RMB (million),
except % and per share information)
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
September 30, 2018
|
|
|
GAAP Result
|
% of Net
Revenue
|
|
Non-GAAP
Adjustment
|
% of Net
Revenue
|
|
Non-GAAP
Result
|
% of Net
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation included in Operating expense is as
follows:
|
|
|
|
|
|
|
|
|
|
Product
development
|
(2,491)
|
27%
|
|
217
|
2%
|
|
(2,274)
|
24%
|
|
Sales and
marketing
|
(2,705)
|
29%
|
|
36
|
0%
|
|
(2,669)
|
29%
|
|
General and
administrative
|
(688)
|
7%
|
|
148
|
2%
|
|
(540)
|
6%
|
|
Total operating
expenses
|
(5,884)
|
63%
|
|
401
|
4%
|
|
(5,483)
|
59%
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
1,480
|
16%
|
|
401
|
4%
|
|
1,881
|
20%
|
|
|
|
|
|
|
|
|
|
|
|
Fair value changes of
equity securities investments, net of tax
|
(2,470)
|
-26%
|
|
2,470
|
26%
|
|
-
|
0%
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/income
attributable to Ctrip's shareholders
|
(1,139)
|
-12%
|
|
2,871
|
31%
|
|
1,732
|
19%
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
(losses)/earnings per ordinary share (RMB)
|
(16.62)
|
|
|
39.68
|
|
|
23.06
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
(losses)/earnings per ADS (RMB)
|
(2.08)
|
|
|
4.96
|
|
|
2.88
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
(losses)/earnings per ADS (USD)
|
(0.30)
|
|
|
0.72
|
|
|
0.42
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended June
30, 2018
|
|
|
GAAP Result
|
% of Net
Revenue
|
|
Non-GAAP
Adjustment
|
% of Net
Revenue
|
|
Non-GAAP
Result
|
% of Net
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation included in Operating expense is as
follows:
|
|
|
|
|
|
|
|
|
|
Product
development
|
(2,251)
|
31%
|
|
268
|
4%
|
|
(1,983)
|
27%
|
|
Sales and
marketing
|
(2,191)
|
30%
|
|
44
|
1%
|
|
(2,147)
|
29%
|
|
General and
administrative
|
(684)
|
9%
|
|
168
|
2%
|
|
(516)
|
7%
|
|
Total operating
expenses
|
(5,126)
|
70%
|
|
480
|
7%
|
|
(4,646)
|
63%
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
724
|
10%
|
|
480
|
7%
|
|
1,204
|
16%
|
|
|
|
|
|
|
|
|
|
|
|
Fair value changes of
equity securities investments, net of tax
|
1,750
|
24%
|
|
(1,750)
|
-24%
|
|
-
|
0%
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Ctrip's shareholders
|
2,381
|
33%
|
|
(1,270)
|
-17%
|
|
1,111
|
15%
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
31.09
|
|
|
(15.88)
|
|
|
15.21
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
3.89
|
|
|
(1.99)
|
|
|
1.90
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
0.59
|
|
|
(0.30)
|
|
|
0.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended
September 30, 2017
|
|
|
GAAP Result
|
% of Net
Revenue
|
|
Non-GAAP
Adjustment
|
% of Net
Revenue
|
|
Non-GAAP
Result
|
% of Net
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation included in Operating expense is as
follows:
|
|
|
|
|
|
|
|
|
|
Product
development
|
(2,185)
|
27%
|
|
210
|
3%
|
|
(1,975)
|
24%
|
|
Sales and
marketing
|
(2,378)
|
29%
|
|
38
|
0%
|
|
(2,340)
|
29%
|
|
General and
administrative
|
(674)
|
8%
|
|
136
|
2%
|
|
(538)
|
7%
|
|
Total operating
expenses
|
(5,237)
|
64%
|
|
384
|
5%
|
|
(4,853)
|
60%
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
1,579
|
19%
|
|
384
|
5%
|
|
1,963
|
24%
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Ctrip's shareholders
|
1,394
|
17%
|
|
384
|
5%
|
|
1,778
|
22%
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
18.86
|
|
|
4.77
|
|
|
23.63
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (RMB)
|
2.36
|
|
|
0.59
|
|
|
2.95
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ADS (USD)
|
0.35
|
|
|
0.09
|
|
|
0.44
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes for all the
condensed consolidated financial schedules presented:
|
|
|
|
|
|
|
|
|
|
|
Note 1: The
conversion of Renminbi (RMB) into U.S. dollars (USD) is based on
the certified exchange rate of USD1.00=RMB6.8680 on September 28,
2018 published by the Federal
Reserve Board.
Note 2: Diluted net
income/(loss) per share is calculated by dividing net income/(loss)
attributable to ordinary shareholders by the weighted average
number of ordinary shares and
dilutive potential ordinary shares outstanding during the periods,
including the dilutive effects of share-based awards and
convertible senior notes. All dilutive potential ordinary
shares
had anti-dilutive impact and were excluded in computation of GAAP
diluted EPS in the period when loss was reported.
|
View original
content:http://www.prnewswire.com/news-releases/ctrip-reports-unaudited-third-quarter-of-2018-financial-results-300745513.html
SOURCE Ctrip.com International, Ltd.