Tuniu Q1 Revenue Jumps 12.8%, Returns to Profitability; Announces $4.9M Share Buyback
TOUR is trading near its 52-week low of $5.45 (2.9% above the low) on light trading volume (0.2× avg).
Summary
Tuniu reported a 12.8% year-over-year revenue increase to RMB 132.59 million for Q1, achieving non-GAAP profitability for the fifth consecutive quarter and turning net income positive. The company also repurchased $4.9 million worth of ADSs. This positive financial update follows recent corporate actions, including a 1-for-10 reverse split and a $50 million shareholder return plan, which helped regain Nasdaq compliance. The revenue growth and share buyback are material for the small-cap company, which is trading near its 52-week low. Management expects Q2 revenue growth of 0% to 5% year-over-year.
At the time of this announcement, TOUR was trading at $5.61 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $56.9M. The 52-week trading range was $5.45 to $10.10. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.