Ctrip Group's third-quarter revenue of 13.75 billion yuan rose 99% compared with the same period last year.

CTOnews.com November 21 news, Ctrip Group announced the third quarter of September 30, 2023 unaudited financial results.

According to the financial report, Ctrip's third-quarter revenue was 13.75 billion yuan, while analysts expected 13.71 billion yuan, compared with 6.9 billion yuan in the same period last year, up 99% from a year earlier.

Ctrip's third-quarter net profit was 4.6 billion yuan, compared with 200 million yuan in the same period in 2022. In the third quarter, the adjusted EBITDA was 4.6 billion yuan, and the adjusted EBITDA profit margin was 34%, compared with 21% in the same period and 33% in the previous quarter.

In the third quarter, Ctrip accommodation booking revenue was 5.6 billion yuan, up 92% from the same period last year; transportation ticketing revenue was 5.4 billion yuan, up 105% from the same period last year; tourism and vacation revenue was 1.3 billion yuan, up 243% from the same period last year; and business and travel management revenue was 500 91 million yuan, up 60% from the same period last year.

CTOnews.com noted that Ctrip's product R & D expenses in the third quarter of 2023 were 3.6 billion yuan, up 44% from the same period last year and 21% from the previous month, mainly due to the increase in expenses related to product R & D personnel. Product R & D expenses accounted for 26% of net operating income in the third quarter of 2023.