Ctrip.com International Ltd. (CTRP) on Wednesday reported a loss of $244.8 million in its first quarter.
On a per-share basis, the Shanghai-based company said it had a loss of 54 cents. Earnings, adjusted for stock option expense, were 9 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 67 cents per share.
The travel services company posted revenue of $648 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $632.9 million.
Ctrip.Com shares have declined 15 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $39.25, a rise of 3 percent in the last 12 months.
Keywords: Ctrip.Com, Earnings Report
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