BEIJING, May 23 (Xinhua) -- Ctrip, China’s leading online travel agency, saw its net profits skyrocket over 19 folds year on year to 1.1 billion yuan in the first quarter of 2018, according to the company’s financial statement released on Wednesday.
The Nasdaq-listed company pocketed 6.7 billion yuan in net revenues during the period, up 11 percent year on year.
Ctrip said that the operating revenues generated by hotel reservation business in the period rose 23 percent year on year to 2.5 billion yuan.
The company spent 2.2 billion yuan in product development in the first three months, up 10 percent year on year.
The annual growth rate of the company’s net operating revenues in the second quarter is expected to range between 12 percent and 17 percent. (Edited by Zhang Yuan, zhangyuan11@xinhua.org)
A single purchase
