Product R&D expenses increased to 3 billion yuan, and Ctrip's second-quarter net profit was 3.9 billion yuan
2024-08-27
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Beijing News Shell Finance (Reporter Wang Zhenzhen) On August 27, Ctrip Group (hereinafter referred to as "Ctrip") announced its unaudited financial results for the second quarter of 2024. During the period, Ctrip's net operating income was 12.8 billion yuan, up 14% year-on-year and 7% month-on-month; adjusted EBITDA was 4.4 billion yuan, an increase of 700 million yuan from 3.7 billion yuan in the same period last year; net profit was 3.9 billion yuan, up 51.85% year-on-year and down 9.3% month-on-month.
In terms of business, during the period, Ctrip's accommodation booking business revenue was 5.1 billion yuan, up 20% year-on-year and 14% month-on-month; travel and vacation business revenue was 1 billion yuan, up 42% year-on-year and 16% month-on-month; business travel management business revenue was 633 million yuan, up 8% year-on-year and 24% month-on-month; transportation ticketing business revenue increased by 1% year-on-year to 4.9 billion yuan, and decreased by 3% month-on-month due to fluctuations in air ticket prices.
Ctrip said that in the second quarter, cross-border travel was a major growth point in the tourism market, driving the rapid growth of Ctrip's outbound, inbound and overseas platform businesses. In terms of outbound travel, in the second quarter, Ctrip's outbound hotel and air ticket bookings have fully recovered to the same period in 2019. In terms of inbound travel, Ctrip has innovated products in payment, scenic spot tickets, accommodation, group tours, etc., linked destinations to carry out overseas marketing, tell the story of Chinese tourism well, and serve foreign tourists traveling to China. In addition, the company's total revenue from the international 0TA platform increased by about 70% year-on-year.
In the second quarter of this year, Ctrip's operating costs increased by 15% year-on-year to 2.3 billion yuan, sales and marketing expenses increased by 20% year-on-year to 2.8 billion yuan, general administrative expenses increased by 13% year-on-year to 1.1 billion yuan, and product research and development expenses increased by 1% year-on-year to 3 billion yuan. Ctrip said that the company continued to invest in AI and ESG, using AI technology to optimize products and services, and unleashing creativity in inspiring user inspiration, travel strategies, itinerary planning, and after-sales service.
Liang Jianzhang, executive chairman of Ctrip's board of directors, said that looking forward to the future, Ctrip will go all out to use artificial intelligence to innovate the tourism industry. It was revealed that in the second quarter earnings conference, Ctrip will use AI Agent for the first time in the industry to demonstrate the company's firm commitment to innovation and the use of new technologies to promote changes in the tourism industry, and introduce the specific results of AI implementation - two content products.
Editor: Li Zheng
Proofread by Chen Diyan
