Trip.com Slips To Loss In Q1

(RTTNews) - Trip.com Group Limited (TCOM) reported that its first-quarter net loss attributable to shareholders was RMB5.4 billion or US$754 million, compared to net income of RMB4.6 billion in the same period in 2019, primarily due to the operating loss associated with impact of COVID-19, the fair value changes in equity securities investments, impairments of long-term investments and loss from other investing activities. Loss per ADS were RMB8.98(US$1.27) for the first quarter of 2020.

Excluding share-based compensation charges and fair value changes of equity securities investments, non-GAAP net loss attributable to shareholders was RMB2.2 billion or US$312 million, compared to net income of RMB1.8 billion in the same period in 2019.

Excluding share-based compensation charges and fair value changes of equity securities investments, non-GAAP loss per ADS were RMB3.73 or US$0.53 for the first quarter of 2020.

Net revenue was RMB4.7 billion or US$669 million, represents a 42% decrease from the same period in 2019.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.51 per share and revenues of $580.12 million for the quarter. Analysts' estimates typically exclude special items.