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Tuniu Corp. Q1 loss widens YOY

Tuniu Corp. said its first-quarter normalized net income amounted to a loss of 2.32 yuan per share, compared with the S&P Capital IQ consensus estimate of a loss of 3.36 yuan per share.

The per-share loss narrowed 48.8% year over year from 4.52 yuan.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 145.7 million yuan, compared with a loss of 39.2 million yuan in the year-earlier period.

The normalized profit margin fell to negative 11.7% from negative 6.8% in the year-earlier period.

Total revenue climbed on an annual basis to 1.25 billion yuan from 578.2 million yuan, and total operating expenses rose year over year to 1.49 billion yuan from 644.7 million yuan.

Reported net income came to a loss of 233.1 million yuan, or a loss of 3.71 yuan per share, compared to a loss of 62.7 million yuan, or a loss of 7.24 yuan per share, in the year-earlier period.

As of May 25, US$1 was equivalent to 6.20 yuan.