Qunar Loss Widens

(RTTNews) - Qunar Cayman Islands Ltd (QUNR), a Chinese mobile and online travel platform, on Monday reported second-quarter net loss of RMB 815.7 million, or $131.6 million; compared with a loss of RMB 421.6 million last year.

Loss per American depositary share for the quarter was RMB 6.66, or $1.08; compared with a loss of RMB 3.60 a year ago.

Excluding items, adjusted loss for the quarter was RMB 623.8 million, or $100.6 million; compared with a loss of RMB 196.5 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of RMB 6.19 per share for the quarter. Analysts' estimates typically exclude special items.

The company said results were mainly hurt by higher sales and product development costs.

Revenues for the quarter were RMB 881 million, or $142.1 million; compared with RMB 400.4 million in the prior year.

Analysts estimated revenues of RMB 851 million for the quarter.

For the third quarter, Qunar expects year-on-year revenue growth of 140% to 145%, while analysts project a growth of 101.8%.