Ctrip's stock price fell 3.56% to $33.86 as the Shanghai-based online travel company said it is expecting third-quarter revenue to increase by 10% to 15%, down from 15% during the same period a year ago.
In a conference call with investors, Cindy Xiaofan Wang, the firm's chief financial officer, said the hit from "short-term macro and industry headwinds" could amount to a drop in revenue of 400 to 500 basis points in the quarter.
"For the rest of the year, the company expects to outperform the market, while delivering continuous operating leverage compared with the previous year," Wang said.
In its quarterly earnings report, Ctrip also announced plans to change its name to Trip.com Group Limited.
"The new name reflects the services and products we provide, and can be easily remembered by global users," said James Liang, executive chairman, in a press statement.
Ctrip reported net revenue of $1.3 billion in the second quarter, up 19% from last year. Net revenue also rose 6% from the previous quarter.
Reservation revenue for the second quarter weighed in at $497 million, a 21% jump over the same quarter in 2018, the company said.