Wednesday, May 25, 2005

China Online Travel Service eLong Posts Q1 Net Loss

From ChinaTechNews: eLong Posts Q1 Net Loss

"eLong.com (LONG) has reported its unaudited financial results for the first quarter ended March 31, 2005. The company recorded a net loss of US$850,000 for the quarter, but total revenues increased 46% year-over-year to US$4.7 million and travel revenues increased 63% year-over-year to US$4.5 million.

Hotel revenues increased 42% year-over-year to US$3.6 million and air ticketing revenues increased 137% year-over-year to US$450,000.
eLong's cash balance, restricted cash, and cash equivalents at the end of the quarter were US$130.3 million, including restricted cash and cash equivalents of US$12.4 million."

China Net Invstor: Barry Diller's InterActiveCorp, which owns US online travel services provider Expedia, owns 51 percent of eLong.

Read more
Barry Diller (IAC) infuses cash to Chinese online travel site eLong

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