Second quarter results for eLong.com (LONG) show total revenues increased 55% year-over-year and 33% sequentially to CNY51.9 million and travel revenues increased 59% year-over-year and 27% sequentially to CNY47.2 million.
The company recorded a net loss of CNY3.3 million for the second quarter, compared to a net loss of CNY10.9 million in the corresponding period a year ago, and a net loss of CNY9.8 million in the first quarter.
The US GAAP loss per ADS for the second quarter was CNY0.14, compared to US GAAP loss per ADS of CNY1.30 in the corresponding period a year ago and US GAAP loss per ADS of CNY0.40 in the first quarter.
Revenue from hotel commissions for the second quarter of 2005 totaled CNY37.1 million, an increase of 37% from CNY27.0 million year-over-year, and an increase of 25% from CNY29.8 million sequentially.
Such increases in hotel commissions were primarily due to higher room volumes. Hotel room nights booked through eLong increased to 615,000 in the second quarter, up 30% from 472,000 in the corresponding period a year ago, and up 20% sequentially from 513,000 in the first quarter.
Hotel commissions per room night were CNY60 in the second quarter of 2005, up 5% from CNY57 in the corresponding period a year ago and up 3% from CNY58 in the first quarter.
Revenues from air ticketing during the second quarter of 2005 totaled CNY5.0 million, an increase of 122% from CNY2.2 million year-over-year, and an increase of 34% from CNY3.7 million sequentially. Volume in air ticket sales continued to grow with 135,000 air tickets sold in the second quarter, more than double the 55,000 sold in the corresponding period a year ago and over 30% higher than the 103,000 sold in the first quarter.
Other travel revenue in the second quarter of 2005 was CNY5.1 million, an increase of 957% from CNY483,000 year-over-year, and an increase of 38% from CNY3.7 million sequentially as a result of a seasonal increase in second quarter revenues from RayTime, an operator of hotel loyalty programs across China whose results have been consolidated with the company's results since eLong acquired RayTime in November 2004.
Operating expenses for the second quarter of 2005, excluding business taxes, stock-based compensation and amortization of intangibles, were CNY45.0 million.