bestnewplaytoearncryptogames| Ctrip's first quarter results were solid: revenue increased by 29%, EBIT profit increased by 44% year-on-year

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Goldman Sachs reported: Ctrip's first-quarter results exceeded expectations, revenue surged 29%, EBIT surged 44% year-on-year, and pre-tax profit margin forecast was raised. Full-year revenue forecast was fine-tuned to 52.8 billion yuan, and EBIT profit margin forecast increased to 30bestnewplaytoearncryptogames.1%, and the profit test was adjusted to 16 billion yuan. The target price was raised from HK$439 to HK$500, maintaining the "Buy" rating.

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Goldman Sachs released a report that Ctrip's first quarter results were strong, with revenue increasing 29% year-on-year to 11.9 billion yuan

Ctrip announced that as of March 2022bestnewplaytoearncryptogamesIn its quarterly financial report, revenue reached 11.9 billion yuan, exceeding the guidance limit. Earnings before tax and interest increased by 44% year-on-year to 3.8 billion yuan, exceeding market expectationsbestnewplaytoearncryptogamesof 3.2 billion yuan.

Management is optimistic about international tourism and Trip platforms, but its views on the domestic tourism market are more cautious.

Although the year-on-year growth of domestic tourism revenue slowed to the medium single digit, it benefited from the high base in the same period last year.

Goldman Sachs maintained its full-year revenue forecast of 52.8 billion yuan for Ctrip, an increase of 19% from 2021, and raised its EBIT profit margin forecast to 30bestnewplaytoearncryptogames.1%。

At the same time, Goldman Sachs increased Ctrip's full-year profit forecast by 13% to 16 billion yuan, and expects profits to increase by 16% next year and the year after.

Based on optimistic expectations for Ctrip's future earnings, Goldman Sachs raised its 2024 - 2026 earnings per share forecast by 13% to 17%, and raised its H-share target price to HK$500 to maintain its "Buy" rating.