WDAY and CRIP had upside surprises and upside guidance tonight.
TICKER ALERT: CTRP
Ctrip beats by $0.03, beats on revs; expects Q3 net revenue growth to continue at y/y rate of approximately 35-40% (52.72 +0.56)
Reports Q2 (Jun) earnings of $0.22 per ADS, $0.03 better than the Capital IQ Consensus of $0.19; revenues $946.38 mln vs the $929.55 mln Capital IQ Consensus. Non-GAAP operating margin for the second quarter of 2017 was 18%, improving significantly from 4% for the same quarter a year of 2016, primarily driven by improvements in operating efficiency across the board and synergies from the invested companies. For the third quarter of 2017, the Company expects the net revenue growth to continue at a year-on-year rate of approximately 35-40%. The company has continued to strengthen its position in lower-tier cities. Both new customer acquisition and user engagement in lower-tier cities improved significantly in the second quarter of 2017. Ctrip and Qunar have opened over 400 offline retail stores by the end of the quarter with approximately 200 more in the pipeline. Skyscanner has officially launched its "direct booking" business, which introduces travelers to a seamless booking experience. Conversion rates of mobile traffic for direct-booking partners have increased by approximately 50%.
Workday beats by $0.09, beats on revs, beats on margins; Raises FY18 subscription revenue forecast (107.54 +3.13)
Reports Q2 (Jul) earnings of $0.24 per share, $0.09 better than the Capital IQ Consensus of $0.15; revenues rose 40.6% year/year to $525.3 mln vs the $507.44 mln Capital IQ Consensus. WDAY raises FY18 subscription revenue to $1.750-1.757 bln (Prior $1.705-1.720 bln). Non-GAAP operating profit for the second quarter was $49.0 million, or 9.3% of revenues (Guidance 6-7%) Operating cash flows for the second quarter were $15.1 million and free cash flows were negative $23.4 million (Guidance was for negative cash flow) "We were pleased to deliver our fourth consecutive quarter of over 40% subscription revenue growth, along with solid operating margins," said Robynne Sisco, chief financial officer, Workday. "With the momentum from our second quarter results, we are raising our fiscal 2018 outlook and are now expecting subscription revenue of $1.750 to $1.757 billion (Prior $1.705-1.720 bln), or growth of 36%. We expect our third quarter subscription revenue to be between $450 and $452 million, or growth of 33% to 34%".
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