BEIJING, Nov. 20 (Xinhua) -- China's online travel agency (OTA) Tuniu reported rapid growth in its third-quarter revenue thanks to the strong performance of its packaged tour products.

The firm's net revenue in Q3 stood at 852.5 million yuan (about 119.3 million U.S. dollars), representing a year-on-year increase of 11.7 percent, the Nasdaq-listed company announced in its unaudited financial report.

Revenues from packaged tours were 747.1 million yuan in Q3, up 18.1 percent year on year, primarily due to the growth of organized tours.

"During the quarter, growth of packaged tour revenues recovered to double digits," said Maria Yi Xin, Tuniu's CFO. "For the third consecutive year, we were able to achieve non-GAAP profitability during our peak season in the third quarter."

The company's non-GAAP net income was 39 million yuan in Q3 while operating expenses reached 437.3 million yuan.

For the fourth quarter of 2019, Tuniu expects to generate net revenue between 438.2 million yuan and 461.8 million yuan, which will represent a decrease of 2 percent to 7 percent year on year. Enditem

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