Ctrip continues to spend heavily. Product development expenses jumped by 83% to $130 million (largely because of the compensation it had to pay to talented employees) and sales and marketing rose 68% to $117 million, both outpacing the revenue growth. But net loss has narrowed. Ctrip reported diluted earnings per share of $0.15 net loss, much better than the $0.25 net loss expected by the street and the $0.26 net loss incurred in the December quarter. Ctrip does not see any slowdown in the June quarter, saying that revenue will grow about 45-50%. Get the full story at Barron's Asia and Ctrip