Tuniu (TOUR) Reports Q3 EPS of $0.03, Revenues Beat
Tuniu (NASDAQ: TOUR) reported Q3 EPS of $0.03, versus $0.00 reported last year. Revenue for the quarter came in at $111.1 million versus the consensus estimate of $107.59 million.
Mr. Donald Dunde Yu, Tuniu's founder, Chairman and Chief Executive Officer, said, "During the third quarter, we have continued to improve our sales and service networks in order to maximize the customer\'s experience. We have refined our sales network to further simplify our customers' booking experience across each channel and further integrated our service network with our platform to insure our customers are served with higher quality products and services. Our direct procurement as a percentage of packaged tour GMV reached 60% in the third quarter. Going forward, we believe our dedication to improving the user experience will differentiate Tuniu from our peers and will serve as the driver of our growth in the future."
Ms. Maria Yi Xin, Tuniu's Chief Financial Officer, said, "We are excited to announce that Tuniu achieved profitability during the third quarter of 2018 both on a GAAP and non-GAAP basis. Additionally, we were able to generate positive cash flow during the first three quarters this year. We believe our ability to achieve profitability and maintain positive operating cash flow this quarter is a reflection of how our long-term strategies have positively reshaped our company's financials. Our achievement this quarter is a significant step towards unlocking greater long-term value for our shareholders."
For earnings history and earnings-related data on Tuniu (TOUR) click here.
