500.com Limited Announces Unaudited Financial Results for the Third Quarter of 2019

Date : 11/11/2019 @ 9:05PM
Source : PR Newswire (US)
Stock : 500 com Limited (WBAI)
Quote : 9.35  0.09 (0.97%) @ 11:00PM

500.com Limited Announces Unaudited Financial Results for the Third Quarter of 2019

500 com (NYSE:WBAI)
Historical Stock Chart

2 Months : From Oct 2019 to Dec 2019

Click Here for more 500 com Charts.

SHENZHEN, China, Nov. 11, 2019 /PRNewswire/ -- 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), a leading online sports lottery service provider in China, today reported its unaudited financial results for the third quarter ended September 30, 2019.

Physical Sales Channels of Sports Lottery Tickets

In March 2018, the Company entered into a framework agreement with the China Sports Lottery Administration Center ("CSLA"), pursuant to which the Company will cooperate with CSLA to develop physical channels to sell sports lottery tickets.

As of the reporting date, the Company had entered into framework agreements with Tianjin, Hunan and other provincial (including regional and municipal) sports lottery centers and started operations in Tianjin, Hunan, Hubei and Guangxi in China. The Company is committed to assisting sports lottery sales organizations throughout the country to improve the distribution of physical sales channel outlets in order to facilitate sports lottery ticket purchases and optimize the experience of lottery purchasers.

Suspension of Online Sports Lottery Sales in China

All provincial sports lottery administration centers to which the Company provided sports lottery sales services have suspended accepting online purchase orders for lottery products in response to the Notice related to Self-Inspection and Self-Remedy of Unauthorized Online Lottery Sales (the "Self-Inspection Notice"), which was jointly promulgated by the Ministry of Finance, the Ministry of Civil Affairs and the General Administration of Sports of the People's Republic of China on January 15, 2015. In response to the Self-Inspection Notice, on April 4, 2015, the Company decided to voluntarily suspend all online lottery sales services. As a result of the provincial sport lottery administration centers' decision to suspend accepting online lottery orders and the Company's voluntary suspension of all online sports lottery sales services in China, the Company has not generated any revenue from these services since April 2015.

Third Quarter 2019 Highlights

  • Net revenues were RMB9.8 million (US$1.4 million), compared with net revenue of RMB9.7 million for the second quarter of 2019, and net revenue of RMB30.1 million for the third quarter of 2018.
  • Operating loss was RMB98.4 million (US$13.8 million), compared with operating loss of RMB138.3 million for the second quarter of 2019, and operating loss of RMB100.3 million for the third quarter of 2018.
  • Non-GAAP[1] operating loss was RMB52.3 million (US$7.3 million), compared with non-GAAP operating loss of RMB60.9 million for the second quarter of 2019, and non-GAAP operating loss of RMB57.6 million for the third quarter of 2018.
  • Net loss attributable to 500.com was RMB95.8 million (US$13.4 million), compared with net loss attributable to 500.com of RMB137.8 million for the second quarter of 2019, and net loss attributable to 500.com of RMB96.5 million for the third quarter of 2018.
  • Non-GAAP net loss attributable to 500.com was RMB49.7 million (US$7.0 million), compared with non-GAAP net loss attributable to 500.com of RMB60.4 million for the second quarter of 2019, and non-GAAP net loss attributable to 500.com of RMB53.8 million for the third quarter of 2018.
  • Basic and diluted losses per ADS were RMB2.23 (US$0.31).
  • Non-GAAP basic and diluted losses per ADS were RMB1.16 (US$0.16).

[1] Non-GAAP financial measures exclude the impact of share-based compensation expenses and impairment of goodwill. Reconciliations of non-GAAP financial measures to U.S. GAAP financial measures are set forth in the table at the end of this release.

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 The Multi Group, or TMG, in July 2017, and revenue from TMG is a major component of our current revenue. In addition, in March 2018, we entered into a framework agreement with CSLA, pursuant to which we will cooperate with CSLA to develop physical channels to sell sports lottery tickets. In that regard, we have entered into framework agreements with Tianjin, Hunan and other provinces and cities in China to assist them in developing physical sales channels of sports lottery tickets. We also have started operations in Tianjin, Hunan, Hubei and Guangxi in China. We released the Blue Paper on Blockchain Technology for China's Lottery Industry in November 2019, which provides an in-depth study on the current state and needs of China's lottery industry and outlines plans to drive its sustainable development using blockchain technology."

The Blue Paper provides an in-depth study on the current state and needs of China's lottery industry and outlines plans to drive its sustainable development using blockchain technology. The Paper is primarily based on 500.com's wealth of experience and insights into the lottery industry gained over its many years of operations and leverages its recent research and exploration into the application of blockchain technology. Upon such technical strength, the team designed the framework of Chinese Lottery Chain (CLC), a blockchain solution specifically tailored to China's lottery industry. CLC was designed to be applied across the lottery industry where it will enhance lottery information management security, reduce operational costs and increase efficiency, strengthen the credibility of lottery results in China, and reduce lottery theft and fraud.

We will continue to look for additional opportunities to enhance value for our shareholders.

Third Quarter 2019 Financial Results

Net Revenues

Net revenues were RMB9.8 million (US$1.4 million) for the third quarter of 2019, representing a decrease of RMB20.3 million or 67.4% from RMB30.1 million for the third quarter of 2018 and a slight increase of RMB0.1 million or 1.0% from RMB9.7 million for the second quarter of 2019. Net revenues during the third quarter of 2019 consisted primarily of RMB9.3 million (EUR1.2 million) in revenue contribution from the Company's online lottery betting and online casino in Europe through TMG, which accounted for 94.9% of total net revenues. The year-over-year decrease was mainly attributable to a decrease of RMB14.2 million resulting from the website migration in connection with the conversion of TMG's Swedish license, which migration required users to re-register, and a decrease of RMB6.5 million caused by the ceased operation of sports information services in China in March 2019.

Operating Expenses

Operating expenses were RMB79.0 million (US$11.1 million) for the third quarter of 2019, representing a decrease of RMB56.7 million or 41.8% from RMB135.7 million for the third quarter of 2018, and a decrease of RMB7.4 million or 8.6% from RMB86.4 million for the second quarter of 2019. The year-over-year decrease was mainly due to a decrease of RMB27.5 million in share-based compensation expenses associated with share options granted to the Company's employees, a decrease of RMB13.6 million in marketing and promotional expenses relating to a change in TMG's marketing strategy, a decrease of RMB5.6 million in consulting expenses, a decrease of RMB4.7 million in expenses for employees, a decrease of RMB1.3 million in account handling expenses, a decrease of RMB1.3 million in platform service costs for TMG associated with its reduction in online lottery and online casino operations, a decrease of RMB1.2 million in travelling expenses and a decrease of RMB1.0 million in depreciation and amortization associated with leasehold improvements. The sequential decrease was mainly due to a decrease of RMB5.0 million in share-based compensation expenses associated with share options granted to the Company's employees, a decrease of RMB3.1 million in consulting expenses, a decrease of RMB0.7 million in travelling expenses, which were partially offset by an increase of RMB0.6 million in lottery insurance costs  and an increase of RMB0.6 million in depreciation associated with physical sales terminals.

Cost of services was RMB16.1 million (US$2.3 million) for the third quarter of 2019, representing a decrease of RMB2.4 million or 13.0% from RMB18.5 million for the third quarter of 2018, and an increase of RMB1.1 million or 7.3% from RMB15.0 million for the second quarter of 2019. The year-over-year decrease was mainly attributable to a decrease of RMB1.3 million in account handling expenses and a decrease of RMB1.3 million in platform service costs for TMG associated with its reduction in online lottery and online casino operations. The sequential increase was mainly due to an increase of RMB0.6 million in lottery insurance costs and an increase of RMB0.6 million in depreciation associated with physical sales terminals.

Sales and marketing expenses were RMB9.0 million (US$1.3 million) for the third quarter of 2019, representing a decrease of RMB17.6 million or 66.2% from RMB26.6 million for the third quarter of 2018, and a slight decrease of RMB0.6 million or 6.3% from RMB9.6 million for the second quarter of 2019. The year-over-year decrease was mainly attributable to a decrease of RMB13.6 million in marketing and promotional expenses relating to a change in TMG's marketing strategy, a decrease of RMB3.0 million in share-based compensation expenses associated with share options granted to the Company's employees and a decrease of RMB0.8 million in expenses for employees. The sequential decrease was mainly attributable to a decrease of RMB0.6 million in share-based compensation expenses associated with share options granted to the Company's employees.

General and administrative expenses were RMB42.9 million (US$6.0 million) for the third quarter of 2019, representing a decrease of RMB30.4 million or 41.5% from RMB73.3 million for the third quarter of 2018, and a decrease of RMB7.1 million or 14.2% from RMB50.0 million for the second quarter of 2019. The year-over-year decrease was mainly due to a decrease of RMB19.3 million in share-based compensation expenses associated with share options granted to the Company's employees, a decrease of RMB5.6 million in consulting expenses, a decrease of RMB3.0 million in expenses for employees, a decrease of RMB1.0 million in depreciation and amortization associated with leasehold improvements and a decrease of RMB1.0 million in travelling expenses. The sequential decrease was mainly due to a decrease of RMB3.5 million in share-based compensation expenses associated with share options granted to the Company's employees, a decrease of RMB3.0 million in consulting expenses, and a decrease of RMB0.6 million in travelling expenses.

Service development expenses were RMB11.1 million (US$1.6 million) for the third quarter of 2019, representing a decrease of RMB6.3 million or 36.2% from RMB17.4 million for the third quarter of 2018, and a slight decrease of RMB0.7 million or 5.9% from RMB11.8 million for the second quarter of 2019. The year-over-year decrease was mainly due to a decrease of RMB5.2 million in share-based compensation expenses associated with share options granted to the Company's employees, a decrease of RMB0.9 million in expenses for employees and a decrease of RMB0.2 million in travelling expenses. The sequential decrease was mainly due to a decrease of RMB0.9 million in share-based compensation expenses associated with share options granted to the Company's employees.

Impairment of Goodwill

Impairment of goodwill was RMB30.9 million (US$4.3 million) for the third quarter of 2019. Impairment of goodwill was RMB57.2 million for the second quarter of 2019 and there was no impairment of goodwill for the third quarter of 2018. The impairment of goodwill was related to the Company's acquisition of TMG.

Operating Loss

Operating loss was RMB98.4 million (US$13.8 million) for the third quarter of 2019, including the impairment of goodwill of RMB30.9 million (US$4.3 million), compared with operating loss of RMB100.3 million for the third quarter of 2018, and operating loss of RMB138.3 million for the second quarter of 2019.

Non-GAAP operating loss was RMB52.3 million (US$7.3 million) for the third quarter of 2019, compared with non-GAAP operating loss of RMB57.6 million for the third quarter of 2018, and non-GAAP operating loss of RMB60.9 million for the second quarter of 2019.

Net Loss Attributable to 500.com

Net loss attributable to 500.com was RMB95.8 million (US$13.4 million) for the third quarter of 2019, 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 RMB137.8 million for the second quarter of 2019. The sequential decrease was mainly due to a decrease in impairment provision of RMB26.3 million for goodwill and a decrease of RMB5.0 million in share-based compensation expenses associated with share options granted to the Company's employees.

Non-GAAP net loss attributable to 500.com was RMB49.7 million (US$7.0 million) for the third quarter of 2019, 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 RMB60.4 million for the second quarter of 2019.

Cash and Cash Equivalents, Restricted Cash, Time Deposits and Short-term Investments

As of September 30, 2019, the Company had cash and cash equivalents of RMB242.7 million (US$34.0 million), restricted cash[2] of RMB4.2 million (US$0.6 million) and time deposits[3] of RMB165.4 million (US$23.1 million), compared with cash and cash equivalents of RMB312.5 million, restricted cash of RMB4.3 million and time deposits  of RMB137.5 million as of June 30, 2019.

[2] Restricted cash represents: (i) government grants received but pending final clearance; and (ii) deposits in
Sata bank in Malta yet to be withdrawn.

[3] Time deposits represent six-month fixed-interest deposits with commercial banks.

Prepayments and Other Current Assets

As of September 30, 2019, the balance of prepayment and other current assets was RMB53.5 million (US$7.5 million), compared with RMB54.0 million as of June 30, 2019. The balance as of September 30, 2019 mainly included: (i) the current portion of deferred expenses of RMB4.3 million (US$0.6 million); (ii) receivables from third party payment providers of RMB5.5 million (US$0.8 million); (iii) deposit receivables of RMB1.4 million (US$0.2 million); (iv) receivables of consideration from disposal of subsidiaries of RMB4.3 million (US$0.6 million); (v) deductible value added input tax of RMB13.0 million (US$1.8 million); and (vi) other receivables of RMB25.0 million (US$3.5 million).

Business Outlook

The Company does not expect to issue any earnings forecast until it receives clear instructions as to the resumption date of online sports lottery sales from the Ministry of Finance.

Currency Convenience Translation

This announcement contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars were made at the exchange rate of RMB7.1477 to US$1.00, as set forth in the H.10 statistical release of the Federal Reserve Board on September 30, 2019, and all translations from Renminbi to EUR were made at the exchange rate of RMB7.6881 to EUR1.00, which was the average of the month-end exchange rates as set forth in the statistical release of State Administration of Foreign Exchange at the end of each month in 2019.

About 500.com Limited

500.com Limited (NYSE: WBAI) is a leading online sports lottery service provider in China. The Company offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users. 500.com was among the first companies to provide online lottery services in China, and is one of two entities that have been approved by the Ministry of Finance to provide online lottery sales services on behalf of the China Sports Lottery Administration Center, which is the government authority that is in charge of the issuance and sale of sports lottery products in China.

Safe Harbor Statements

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

About Non-GAAP Financial Measures

To supplement the Company's financial results presented in accordance with U.S. GAAP, the Company uses non-GAAP financial measures, which are adjusted from results based on U.S. GAAP to exclude share-based compensation expenses in the Company's consolidated affiliated entities. Reconciliations of non-GAAP financial measures to U.S. GAAP financial measures are set forth in table at the end of this release, which provide more details on the non-GAAP financial measures.

Non-GAAP financial information is provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors' overall understanding of the historical and current financial performance of the Company's continuing operations and prospects for the future. Non-GAAP financial information should not be considered a substitute for or superior to U.S. GAAP results. In addition, calculations of this non-GAAP financial information may be different from calculations used by other companies, and therefore comparability may be limited.

For more information, please contact:

500.com Limited
ir@500wan.com

Christensen

In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

 

500.com Limited
Condensed Consolidated Balance Sheets
(Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$"), except for number of
shares)



December 31,
2018

September 30,
2019

September 30,
2019



RMB

RMB

US$



Audited

Unaudited

Unaudited






ASSETS





Current assets:





Cash and cash equivalents


435,133

242,693

33,954

Restricted cash


1,254

4,246

594

Time deposits


-

165,435

23,145

Short-term investments


100,000

-

-

      Amounts due from related parties


-

10,252

1,434

Prepayments and other current assets


65,198

53,540

7,491

Total current assets


601,585

476,166

66,618






Non-current assets:





Property and equipment, net


97,195

71,818

10,048

Intangible assets, net


214,962

193,677

27,096

Deposits


5,152

5,870

821

Long-term investments


194,375

184,436

25,804

Other non-current assets*


3,563

45,949

6,429

Goodwill


129,752

39,680

5,551

Total non-current assets


644,999

541,430

75,749






TOTAL ASSETS


1,246,584

1,017,596

142,367











LIABILITIES AND SHAREHOLDERS' EQUITY 





Current liabilities:





 Accrued payroll and welfare payable


9,779

53

7

 Accrued expenses and other current liabilities


88,149

51,894

7,259

 Income tax payable


1,766

2,208

309

 Other short-term liabilities*


-

14,502

2,029

Total current liabilities


99,694

68,657

9,604






Non-current liabilities:





 Long-term payables


4,196

3,184

445

 Deferred tax liabilities


7,744

7,032

984

 Other long-term liabilities*


-

40,851

5,715

Total non-current liabilities


11,940

51,067

7,144






TOTAL LIABILITIES


111,634

119,724

16,748






Redeemable noncontrolling interest 


29,388

29,388

4,112






Shareholders' Equity:





Class A ordinary shares, par value US$0.00005 
per share, 700,000,000 shares authorized as of 
December 31, 2018 and September 30, 2019;
350,804,532 and 419,981,792 shares issued and
outstanding as of December 31, 2018 and
September 30, 2019, respectively


121

145

21

Class B ordinary shares, par value US$0.00005
per share; 300,000,000 shares authorized as of
December 31, 2018 and September 30, 2019;
74,400,299 and 10,000,099 shares issued and
outstanding as of December 31, 2018 and
September 30, 2019, respectively


28

5

1

Additional paid-in capital


2,431,924

2,517,546

352,218

Treasury shares


(143,780)

(143,780)

(20,116)

Accumulated deficit


(1,309,424)

(1,637,945)

(229,157)

Accumulated other comprehensive income


137,736

146,921

20,548

Total 500.com Limited shareholders' equity


1,116,605

882,892

123,515

Noncontrolling interests


(11,043)

(14,408)

(2,008)

Total shareholders' equity


1,105,562

868,484

121,507






TOTAL LIABILITIES, NONCONTROLLING
INTEREST AND SHAREHOLDERS' EQUITY


1,246,584

1,017,596

142,367






* We have adopted ASU No. 2016-02, "Leases," beginning January 1, 2019. As a result of adoption of the standard,
we recognized a right-of-use asset of approximately RMB44 million in other non-current assets, and a lease liability
of approximately RMB15 million and RMB41 million in other short-term liabilities and other long-term liabilities,
respectively, on our consolidated balance sheet as of September 30, 2019.

 

500.com Limited
Condensed Consolidated Statements of Comprehensive Loss
(Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$"),
 except for number of shares, per share (or ADS) data)



 Three Months Ended 



September 30,
2018


June 30,
2019


September 30,
2019

September 30,
2019



RMB


RMB


RMB

US$



 Unaudited 


 Unaudited 


 Unaudited 

 Unaudited 

Net Revenues


30,109


9,705


9,763

1,366









Operating costs and expenses:








    Cost of services


(18,467)


(15,032)


(16,096)

(2,252)

    Sales and marketing expenses


(26,591)


(9,567)


(8,980)

(1,256)

    General and administrative expenses


(73,290)


(49,991)


(42,896)

(6,001)

    Service development expenses


(17,379)


(11,825)


(11,072)

(1,549)

Total operating expenses


(135,728)


(86,415)


(79,044)

(11,058)

    Other operating income 


5,168


952


1,233

173

    Government grant


408


377


264

37

    Other operating expenses


(235)


(5,707)


282

39

    Impairment of goodwill




(57,218)


(30,916)

(4,325)

Operating loss from continuing operations


(100,278)


(138,306)


(98,418)

(13,768)

    Other (expenses)  income, net


183


1


(1)

-

    Interest income


3,811


3,427


3,289

460

    Loss from equity method investments


(4,369)


(6,568)


(699)

(98)

    Gain from disposal of a subsidiary


580


-


-

-

Loss before income tax


(100,073)


(141,446)


(95,829)

(13,406)

    Income tax benefit


711


342


230

32

Net loss from continuing operations


(99,362)


(141,104)


(95,599)

(13,374)









Net loss


(99,362)


(141,104)


(95,599)

(13,374)

    Less: Net (loss) income attributable to noncontrolling
     interests and redeemable noncontrolling interest from
     continuing operations

(2,865)


(3,306)


189

26

    Net (loss) income attributable to noncontrolling
     interests

(1,994)


(3,306)


189

26

    Net loss attributable to redeemable noncontrolling
     interests

(871)


-


-

-

Net loss attributable to 500.com Limited


(96,497)


(137,798)


(95,788)

(13,400)

Other comprehensive income








    Foreign currency translation gain


30,437


7,835


10,195

1,426

Other comprehensive income, net of tax


30,437


7,835


10,195

1,426

Comprehensive loss


(68,925)


(133,269)


(85,404)

(11,948)

    Less: Comprehensive (loss) income attributable
     to noncontrolling interests and redeemable noncontrolling 
     interest

(3,914)


(3,306)


189

26

Comprehensive loss attributable to 500.com
Limited

(65,011)


(129,963)


(85,593)

(11,974)









Weighted average number of  Class A and
Class B ordinary shares outstanding:








Basic


423,278,359


428,561,237


429,912,365

429,912,365

Diluted


423,278,359


428,561,237


429,912,365

429,912,365









Losses per share attributable to 500.com
Limited-Basic and Diluted








    Net loss from continuing operations


(0.23)


(0.32)


(0.22)

(0.03)

    Net loss 


(0.23)


(0.32)


(0.22)

(0.03)









Losses per ADS*  attributable to 500.com
Limited-Basic and Diluted








    Net loss from continuing operations


(2.28)


(3.22)


(2.23)

(0.31)

    Net loss 


(2.28)


(3.22)


(2.23)

(0.31)

















* American Depositary Shares, which are traded on the NYSE. Each ADS represents ten Class A ordinary shares of the Company.

 

 

500.com Limited
Reconciliation of non-GAAP results of operations measures to the nearest comparable GAAP measures
(Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$"),
except for number of shares, per share (or ADS) data)


 Three Months Ended 



September 30,
2018


June 30,
2019


September 30,
2019

September 30,
2019



RMB


RMB


RMB

US$



 Unaudited 


 Unaudited 


 Unaudited 

 Unaudited 

Operating loss from continuing operations


(100,278)


(138,306)


(98,418)

(13,768)

    Adjustment for share-based compensation
expenses


42,721


20,203


15,175

2,123

    Adjustment for impairment of goodwill


-


57,218


30,916

4,325

Adjusted operating loss from continuing
operations (non-GAAP)


(57,557)


(60,885)


(52,327)

(7,320)









Net loss attributable to 500.com Limited from
continuing operations


(96,497)


(137,798)


(95,788)

(13,400)

Net loss attributable to 500.com Limited


(96,497)


(137,798)


(95,788)

(13,400)

    Adjustment for share-based compensation
expenses


42,721


20,203


15,175

2,123

    Adjustment for impairment of goodwill


-


57,218


30,916

4,325

Adjusted net loss attributable to 500.com Limited
from continuing operations (non-GAAP) 


(53,776)


(60,377)


(49,697)

(6,952)

Adjusted net loss attributable to 500.com Limited
(non-GAAP) 


(53,776)


(60,377)


(49,697)

(6,952)









Losses per share attributable to 500.com Limited
(non-GAAP)-Basic and diluted








    Net loss from continuing operations (non-GAAP)


(0.13)


(0.14)


(0.12)

(0.02)

    Net loss (non-GAAP)


(0.13)


(0.14)


(0.12)

(0.02)









Losses per  ADS* attributable to 500.com Limited
(non-GAAP)-Basic and diluted








    Net loss from continuing operations (non-GAAP)


(1.30)


(1.41)


(1.16)

(0.16)

    Net loss (non-GAAP)


(1.30)


(1.41)


(1.16)

(0.16)









Basic


423,278,359


428,561,237


429,912,365

429,912,365

Diluted


423,278,359


428,561,237


429,912,365

429,912,365









* American Depositary Shares, which are traded on the NYSE. Each ADS represents ten Class A ordinary shares of the Company.

 

Cision View original content:http://www.prnewswire.com/news-releases/500com-limited-announces-unaudited-financial-results-for-the-third-quarter-of-2019-300955436.html

SOURCE 500.com Limited

Copyright 2019 PR Newswire

Latest WBAI Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.