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What: Shares of Chinese online travel company Ctrip.com (NASDAQ:CTRP) jumped on Tuesday after the company reported its second-quarter results, beating analyst estimates for both earnings and revenue. The stock was up as much as 10% at market open, and by noon was up about 8.5%.

So what: Ctrip reported quarterly revenue of $408 million, up 47% year-over-year and slightly higher than analyst estimates. This growth was driven by strong performance in all of Ctrip's major segments. Accommodation reservation revenue rose by 47% year-over-year, transportation ticketing revenue jumped 45% on the back of a triple-digit increase in volume, and packaged tour revenue increased by 61%.

Non-GAAP earnings per ADS came in at $0.30 for the quarter, up from $0.26 during the same period last year, and $0.14 above the average analyst estimate. A 66% year-over-year increase in product development costs, along with rising expenses in other categories, kept earnings growth in check despite the rapid revenue growth. Going forward, the company expects revenue to grow by 45%-50% year-over-year during the third quarter.

In addition to reporting earnings results, it was announced that eLong, another online travel company, received a going-private offer from Tencent. Ctrip acquired a 37.6% stake in eLong earlier this year.  

Now what: Ctrip paid about $400 million earlier this year for its stake in eLong, and a buyout at the proposed $18 per share would represent significant loss on that investment. Because of this, it seems unlikely that such a deal would go through.

Ctrip continues to grow rapidly, and while it didn't beat revenue estimates by much during the second quarter, a big non-GAAP earnings beat, along with solid guidance, was enough to send the stock soaring.

Timothy Green has no position in any stocks mentioned. The Motley Fool recommends Ctrip.com International. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.