TOUR - Tuniu Corporation revenue rises sharply year over year

2023-06-09 07:19:11 ET

Tuniu Corporation ( NASDAQ: TOUR ) touted strong sales growth in Q1 in an earnings report on Friday.

The company reported a break-even for EPADS alongside an over 50% rise in revenue to $9.2M. Gross profit increased by 145.9% to RMB 38.9M ($5.7M) while operating expenses dropped 18.6% year-over-year to RMB 55.9M ($8.1M).

“We are pleased to see a robust rebound in our business during the first quarter of 2023. Our net revenues experienced strong year-over-year growth of 52%, while revenues from packaged tours soared 179% compared to the previous year,” CEO Donald Dunde Yu said. “By capitalizing on our integrated model, we are strategically leveraging our deep supply chain and broad network of sales channels to attract an increasing number of customers and partners with Tuniu's high-quality products and services. We are confident that this approach will continue to provide a strong foundation for our accelerated growth.”

He highlighted a turn toward positive operating cash flow in the quarter, aided by the drop in operating expenses.

For the second quarter, management expects continued revenue acceleration. Management forecast between RMB 88.7M ($12.4M) and RMB 92.4M ($12.96M) in net revenues.

Dig into the details of the earnings report .

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