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500.Com swings to loss in Q2

500.com Ltd said its normalized net income for the second quarter was a loss of 1.64 yuan per share, compared with 1.11 yuan 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 57.9 million yuan, compared with income of 40.2 million yuan in the year-earlier period.

Reported net income totaled a loss of 81.0 million yuan, or a loss of 2.31 yuan per share, compared to income of 76.0 million yuan, or 2.10 yuan per share, in the prior-year period.

As of July 29, US$1 was equivalent to 6.21 yuan.