500.com Ltd. (WBAI) Reports Q4 Loss of $0.80

500.com Ltd. (NYSE: WBAI) reported Q4 EPS of ($0.80). Revenue for the quarter came in at $3.95 million.

• Net revenues were RMB27.2 million (US$4.0 million), compared with RMB30.1 million for the third quarter 2018, and RMB35.6 million for the fourth quarter of 2017.
• Operating loss was RMB245.2 million (US$35.7 million), compared with operating loss of RMB100.3 million for the third quarter of 2018, and operating loss of RMB142.8 million for the fourth quarter of 2017.
• Non-GAAP[1] operating loss was RMB220.0 million (US$32.0 million), compared with non-GAAP operating loss of RMB57.6 million for the third quarter of 2018, and non-GAAP operating loss of RMB119.6 million for the fourth quarter of 2017.
• Net loss attributable to 500.com was RMB247.7 million (US$36.0 million), compared with net loss attributable to 500.com of RMB96.5 million for the third quarter of 2018, and net loss attributable to 500.com of RMB127.1 million for the fourth quarter of 2017.
• Non-GAAP net loss attributable to 500.com was RMB222.5 million (US$32.4 million), compared with non-GAAP net loss attributable to 500.com of RMB53.8 million for the third quarter of 2018, and non-GAAP net loss attributable to 500.com of RMB103.9 million for the fourth quarter of 2017.
• Basic and diluted losses per ADS were RMB6.05 (US$0.88).
• Non-GAAP basic and diluted losses per ADS were RMB5.50 (US$0.80).

Mr. Zhengming Pan, the CEO of 500.com, stated, "Since we voluntarily suspended our online lottery sales operations in April 2015, we have continued to engage in new and promising initiatives to increase our revenue base. For example, we acquired TMG in July 2017, and this acquisition has significantly increased our revenue. In addition, in March 2018, we entered into a framework agreement with CSLA, under which, both parties plan to cooperate to develop physical channels to sell sports lottery tickets. In that regard, we have entered into framework agreements with Tianjin, Hunan and several other provinces and cities in China, to assist them in developing physical sales channels of sports lottery tickets. We also have started trial operations in Tianjin, Hunan, Hubei, Guangxi and several other provinces and cities in China. We will continue to look for opportunities to enhance value for our shareholders."

For earnings history and earnings-related data on 500.com Ltd. (WBAI) click here.

You May Also Be Interested In

• Virtuix delays Q1 FY2027 earnings report amid accounting firm switch
• Epsilon Energy Ltd. (EPSN) Reports Q2 EPS of $0.23
• Stantec (STN) Tops Q2 EPS by 47c