Ctrip profit jumps as more Chinese travel
China's top online travel agent, Ctrip.com (CTRP.O: Quote, Profile , Research), posted unexpectedly strong quarterly profit driven by rising travel demand, pushing up its stock price in after-hours trading.
Third-quarter profit almost doubled to $15 million, or 21 cents per American Depositary Share, from 12 cents a year earlier, as a growing middle class and rising incomes mean more Chinese are spending more on travel and leisure.