eLong Inc.(LONG: Quote) on Monday reported a decline in profit for first the quarter to $446 thousand, or $0.12 per ADS, from $11.8 million, or $0.34 per ADS in the comparable quarter prior year, reflecting depressed revenues from the year-ago period.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.03 for the quarter. Analysts estimates typically exclude special items.
Meanwhile, revenue for the latest quarter totaled $37.20 million, down significantly from $163.89 million in the year-ago quarter. Analysts expected to see revenues of $33.64 million for the current quarter.
Looking forward to the second quarter, eLong expects net revenues to increase by 15% to 25% compared to the second quarter of 2012, reflecting eLong’s current and preliminary view. Analysts expect the company to report $41.07 million for the second quarter.
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by RTT Staff Writer
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