CTRP Continues Streak Of Beating Consensus, Oppenheimer Reports

Ctrip.com International Ltd. (NASDAQ: CTRP) reported strong 4Q10 and FY10 earnings and continued its streak of beating consensus estimates and company guidance, Oppenheimer reports.

“4Q net revenue was $119.3M (+44% y/y, -2% q/q) beating high-end guidance of +35% y/y consensus $114.6M, and our estimate of $117.6M,” Oppenheimer writes. “Gross and operating margins were 78% and 37% versus our estimates of 78% and 34%. Diluted GAAP EPS was $0.30, beating our and consensus estimates of $0.25 and $0.24 respectively.

“Guidance was conservative as usual, predicting 20% Y/Y revenue growth for 1Q11 versus our estimate of 34%. The company continues to invest in new opportunities including launching a new travel info site and partnering with a restaurant reservations site.”

That partnership includes the Dining Secretary China in 4Q10, an online/offline restaurant reservations site that “management believes will help it expand its service offering to customers.”

“It also launched Lvping.com, a travel information site that includes travel blogs, forums, and reviews, with much content coming from the Ctrip site,” Oppenheimer adds.

Ctrip.com International closed Friday at $42.97.