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eLong Records Q1 Loss Of RMB 32M
Internet, LONG, eLong, hotel, travel
Posted by: Megan Ko on May 29, 2008 | 11:05
Editorial Summary
Chinese online travel services provider eLong (Nasdaq: LONG) reported first quarter results after market close on Wednesday. eLong net revenue was up 24 percent year-on-year to RMB 76.7 million. Revenue from hotel booking commissions was RMB 57.23 million, up 17 percent year-on-year, while air ticket sales contributed RMB 19.63 million, up 63 percent from a year ago.
The company recorded a net loss of RMB 31.8 million, compared to a RMB12.1 million loss in the fourth quarter of 2007. eLong expects second quarter revenue to land between RMB 79 million and RMB 88 million.
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