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weigh@ (Adds details from earnings release, analyst estimates, share movement)
Aug 14 (Reuters) - Luckin Coffee Inc reported a bigger-than-expected quarterly loss in its first results as a public company, as it aggressively invests to overtake Starbucks Corp this year as the largest coffee chain by number of outlets in China.
The company's U.S.-listed shares, which have gained about 44% from its May IPO price, fell 6.5% to $22.95 in premarket trading on Wednesday.
Luckin has gone toe-to-toe with Starbucks since it opened its doors early last year and Wednesday's results highlight the Chinese company's high cash-burn rate to offer cut-price alternatives.
Luckin's operating expenses surged 244% in the second quarter, as it opened 593 new stores taking its total to 2,963, about 1,000 fewer than Starbucks.
Net loss attributable to the company's shareholders widened to 1.21 billion yuan ($172.5 million) in the second quarter ended June 30, from 1.13 billion yuan, a year earlier.
On an adjusted basis, Luckin lost 48 cents per share, bigger than analysts' average estimate of 43 cents, according to IBES data from Refinitiv. Total net revenue surged more than seven-fold to 909.1 million yuan.
The company expects third-quarter revenue to be between 1.35 billion yuan ($192.4 million) and 1.45 billion yuan ($206.7 million).
Analysts on average were expecting revenue of $229.4 million, based on three analysts polled by Refinitiv. ($1 = 7.0154 Chinese yuan renminbi) (Reporting by Uday Sampath in Bengaluru and Pei Li in Beijing; Editing by Sriraj Kalluvila)