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Tuniu Corp. Q1 loss widens YOY

Tuniu Corp. said its first-quarter normalized net income amounted to a loss of 2.82 yuan per share, compared with the S&P Capital IQ consensus estimate of a loss of 4.09 yuan per share.

The per-share loss widened 21.7% year over year from 2.32 yuan.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 336.3 million yuan, compared with a loss of 145.7 million yuan in the prior-year period.

The normalized profit margin fell to negative 16.1% from negative 11.7% in the year-earlier period.

Total revenue rose 62.8% on an annual basis to 2.03 billion yuan from 1.25 billion yuan, and total operating expenses increased 73.9% year over year to 2.59 billion yuan from 1.49 billion yuan.

Reported net income totaled a loss of 539.5 million yuan, or a loss of 4.52 yuan per share, compared to a loss of 233.1 million yuan, or a loss of 3.71 yuan per share, in the year-earlier period.

As of May 24, US$1 was equivalent to 6.56 yuan.