eLong Q2 loss widens
August 27, 2008 | Online Travel
China-based online travel agent eLong, partly owned by Expedia, has reported a widened loss for the second quarter of this year, influenced by Renminbi appreciation and lower US interest rates.
In the quarter ended June 30, 2008, the company incurred a net loss of 20.3 million yuan, increasing by 18.4 million yuan over the same period of 2007.
Its operating loss went up 5.7 million yuan over the same period of previous year to 7.9 million yuan, mainly due to greater expenses on service development, as well as sales and marketing.
The gross revenue increased by 10 percent year on year to 86 million yuan, and net revenue, by nine percent to 80.8 million yuan.
Get the full story at Xinhua
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