Ctrip Beats Expectations With 4Q Earnings; Margin Expansion Intact
Narrow-moat Ctrip’s fourth-quarter results beat our estimate and company guidance, and we see management's reaffirmation of its midterm non-GAAP operating margin guidance of 20%-30% in one to two years despite weaker momentum to be a positive. Net revenue in the fourth quarter increased 22% year on year, beating our estimate of 17.5% and guidance of 15%-20%. Non-GAAP operating margin for the fourth quarter was 3.5% versus our estimate of 0.5% and guidance of 0%-1%. For the first quarter of 2019,...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.