How Far Will It Go? Tuniu Corp (NASDAQ:TOUR) Releases Quarterly Results

Tuniu Corp (NASDAQ:TOUR) is moving slightly higher in the pre-market session as investors are reacting to the company’s quarterly earnings this morning.

Market Action

As of 8:38, TOUR stock is increased by 1 cent or 0.39% to trade at $2.51. So far more than 9K shares have exchanged hands.

Tuniu Announces Unaudited First Quarter 2021 Financial Results

• Net revenues were RMB77.4 million (US$11.8 million[1]) in the first quarter of 2021, representing a year-over-year decrease of 55.5% from the corresponding period in 2020. The decrease was primarily due to the negative impact brought by the outbreak and spread of COVID-19.
• Cost of revenues was RMB48.7 million (US$7.4 million) in the first quarter of 2021, representing a year-over-year decrease of 40.2% from the corresponding period in 2020. As a percentage of net revenues, cost of revenues was 63.0% in the first quarter of 2021, compared to 46.8% in the corresponding period in 2020.
• Gross profit was RMB28.7 million (US$4.4 million) in the first quarter of 2021, representing a year-over-year decrease of 69.0% from the corresponding period in 2020.
• Loss from operations was RMB54.9 million (US$8.4 million) in the first quarter of 2021, compared to a loss from operations of RMB215.5 million in the first quarter of 2020. Non-GAAP loss from operations, which excluded share-based compensation expenses, amortization of acquired intangible assets and impairment of acquired intangible assets, was RMB50.8 million (US$7.8 million) in the first quarter of 2021.
• Net loss was RMB41.6 million (US$6.4 million) in the first quarter of 2021, compared to a net loss of RMB205.2 million in the first quarter of 2020. Non-GAAP net loss, which excluded share-based compensation expenses, amortization of acquired intangible assets and impairment of acquired intangible assets, was RMB37.6 million (US$5.7 million) in the first quarter of 2021.
• Net loss attributable to ordinary shareholders was RMB39.5 million (US$6.0 million) in the first quarter of 2021, compared to a net loss attributable to ordinary shareholders of RMB201.5 million in the first quarter of 2020. Non-GAAP net loss attributable to ordinary shareholders, which excluded share-based compensation expenses, amortization of acquired intangible assets and impairment of acquired intangible assets, was RMB35.4 million (US$5.4 million) in the first quarter of 2021.