Ctrip.com International, Ltd. (ADR) CTRP beat Q3 estimates, but Q4 guidance disappointed investors.
The company’s press release stated, “For the fourth quarter of 2014, the Company expects to continue the net revenue growth year-on-year at a rate of approximately 30 percent. This forecast reflects Ctrip's current and preliminary view, which is subject to change.”
The company had been growing revenues at a higher rate. For the third quarter of 2014, revenues were up 38 percent year-on-year, exceeding the company’s guidance of a 30-35 percent increase.
Ctrip.com traded at $51.74 in the premarket, down 11.5 percent.
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