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500.Com swings to loss in Q3

500.com Ltd said its third-quarter normalized net income was a loss of 1.12 yuan per share, compared with 75 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 46.9 million yuan, compared with income of 26.8 million yuan in the year-earlier period.

Reported net income came to a loss of 79.5 million yuan, or a loss of 1.93 yuan per share, compared to income of 39.5 million yuan, or 1.10 yuan per share, in the prior-year period.

As of Nov. 12, US$1 was equivalent to 6.37 yuan.