Qunar (QUNR) Reports Q3 Loss of $0.78/Share, Offers Outlook
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Aegis Capital Firm on Qunar (QUNR) Following Q3 Results, Outlook; Reaffirms 'Hold' Rating
December 2, 2014 11:50 AM ESTAegis Capital affirms Qunar Cayman Islands (Nasdaq: QUNR) at Hold with a price target of $30 following Q3 results and guidance issued Monday night.
Analyst Yi Chen commented, Total revenues were reported at $81.6mm, beating our projection of $75.4mm. This was primarily driven by the significant growth in flight related revenues followed by hotel reservation revenues during the third quarter, which were $50.8mm (104% increase yearon-year) and $18.2mm (98% increase year-on-year) respectively. Operating margin was -115% for the quarter, following -107% in the second quarter, as the company continued to invest in product development and... More
