Ctrip.com International announced its unaudited financial results for the first quarter ended March 31, 2016.
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Ctrip reported total revenues of RMB4.4 billion ($682 million), representing an 80% increase from the same period in 2015 and a 45% increase from the previous quarter, primarily due to the consolidation of the financial results of Qunar Cayman Islands Limited ("Qunar") starting from December 31, 2015.
Accommodation reservation revenues for the first quarter of 2016 were RMB1.6 billion ($250 million), representing a 70% increase from the same period in 2015 and a 36% increase from the previous quarter, primarily driven by an increase in accommodation reservation volume and the consolidation of Qunar's financial results since December 31, 2015.
Transportation ticketing revenues for the first quarter of 2016 were RMB1.9 billion ($302 million), representing a 106% increase from the same period in 2015 and a 57% increase from the previous quarter, primarily driven by an increase in ticketing volume and the consolidation of Qunar's financial results since December 31, 2015.
Packaged-tour revenues for the first quarter of 2016 were RMB556 million ($86 million), representing a 41% increase from the same period in 2015 and a 59% increase from the previous quarter, primarily driven by an increase in volume growth of organized tours and self-guided tours.
Corporate travel revenues for the first quarter of 2016 were RMB116 million ($18 million), representing a 25% increase from the same period in 2015, primarily driven by increased corporate travel demand from business activities. Corporate travel revenues decreased by 15% from the previous quarter, primarily due to seasonality.
For the first quarter of 2016, net revenues were RMB4.2 billion ($648 million), representing an 80% increase from the same period in 2015. Net revenues for the first quarter of 2016 increased by 45% from the previous quarter.
Gross margin was 73% for the first quarter of 2016, compared to 70% in the same period in 2015 and remained consistent with the previous quarter. ■