Tuniu sells 46.5% more trips in Q3 2016
Tuniu sold 46.5% more trips in third quarter of 2016 and narrowed down net loss from RMB 766.9 million in previous quarter to RMB 571.7 million this quarter.
Tuniu’s number of trips sold increased by 46.5% to 2,444,638 in the third quarter of 2016 from 1,668,325 in the third quarter of 2015.
Revenues from organized tours, substantially all of which are recognized on a gross basis, were RMB 3.9 billion (USD 577.4 million) in the third quarter of 2016, increased by 33.4% YoY. The number of trips of organized tours (excluding local tours) increased by 67.5% to 1,064,316 from 635,555 in the third quarter of 2015.
Revenues from self-guided tours, which are recognized on a net basis, were RMB 67.4 million (USD 10.1 million) in the third quarter of 2016, representing a year-over-year increase of 0.6%.
Net loss was RMB 571.7 million (USD 85.7 million) in the third quarter of 2016, compared to a net loss of RMB 433.7 million in the third quarter of 2015. Net loss was RMB 766.9 million (USD 115.4 million) in the second quarter of 2016.
As of September 30, 2016, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB 5.5 billion (USD 826.2 million).
For the fourth quarter of 2016, Tuniu expects to generate RMB 2,084.7 million to RMB 2,179.5 million of net revenues, which represents 10% to 15% YoY growth, and RMB 147.4 million to RMB 155.3 million of gross profit, which represents 85% to 95% growth year-over-year.
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