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What: Shares of Ctrip.com (NASDAQ:CTRP) traveled higher today, up by as much as 26% after the company posted a solid earnings beat.
So what: Revenue in the second quarter totaled $203 million, easily trouncing the consensus estimate of $190.4 million. The $0.36 per share in adjusted profit also made short work of the $0.17 per share that investors expected.
Now what: CEO James Liang said the company is navigating the transition to mobile platforms effectively, and transactions through mobile channels tripled year over year. Mobile transactions contributed to more than 20% of hotel bookings and 15% of air ticket bookings. Third-quarter sales growth is expected to continue at 20% to 25% relative to the prior year.
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