Ctrip Shrs Tripped Up By Disappointing Outlook

Ctrip (CTRP) shares are trading sharply lower in late trading on a disappointing outlook for Q4.

For Q3, the China-based travel company posted revenue of $58 million and GAAP profits per American depositary share of 22 cents, right in line with expectations.

But here’s the rub: the company sees Q4 revenue growth of 5%-15% versus last year, when the company posted $48.83 million. That implies revenue of $51.3 million to $56.2 million, well below the Street consensus of $67.6 million.

Ergo, in late trading, CTRP is down $2.46, or 10.4%, to $21.20; the shares had rallied 67 cents in the regular session.