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