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Qunar records 7.5% decrease in flight revenues in Q2 2016

09/01/2016| 11:29:56 AM| 中文

Accommodation reservation revenues of Qunar were RMB 392.3 million in Q2 2016, an increase of 51.6% year-on-year, primarily due to increases in revenue per room night.

BEIJING, Sept. 01, 2016  -- Qunar Cayman Islands Limited (NASDAQ:QUNR) (“Qunar” or the “Company”), China’s leading mobile and online travel platform, today announced its unaudited financial results for the second quarter ended June 30, 2016.

Highlights for the Second Quarter of 2016

Total revenues for the second quarter of 2016 were RMB 1,030.8 million, an increase of 17.0% year-on-year.

Gross profit for the second quarter of 2016 was RMB 765.4 million, an increase of 20.7% year-on-year.

Second Quarter 2016 Financial Results

Total revenues for the second quarter of 2016 were RMB 1,030.8 million, an increase of 17.0% year-on-year.

Flight and flight related revenues for the second quarter of 2016 were RMB 478.3 million, a decrease of 7.5% year-on-year and a decrease of 14.3% quarter-on-quarter. The year-on-year flight and flight related revenue decrease was primarily due to a decrease in Total Estimated Flight Ticket volume (TEFT) and slightly offset by an increase in revenue per ticket. 

Accommodation reservation revenues were RMB 392.3 million, an increase of 51.6% year-on-year and an increase of 30.9% quarter-on-quarter. The year-on-year and quarter-on-quarter accommodation reservation revenue growth were primarily due to increases in revenue per room night and in Total Estimated Hotel Room-night volume (TEHR).

Gross profit for the second quarter of 2016 was RMB 765.4 million, an increase of 20.7% year-on-year. Gross margin for the second quarter of 2016 was 74.2%, compared to 72.0% for the corresponding period of 2015 and 75.2% for the first quarter of 2016. The year-on-year increase in profit margin was driven by operational efficiencies. The year-on-year increase in gross profit was primarily due to increase in total revenues and the change in gross profit margin.

Operating loss for the second quarter of 2016 was RMB 599.0 million, compared to RMB 695.2 million for the corresponding period in 2015 and RMB 1,039.4 million for the first quarter of 2016.

Operating margin (non-GAAP) for the second quarter of 2016 was negative 26.5%, compared to negative 69.4% for the corresponding period in 2015 and negative 23.9% for the first quarter of 2016. The year-on-year decrease in operating loss was primarily due to strong revenue and controlled operating expenditures.

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