China online travel provider Qunar Cayman Islands (QUNR) received mixed reviews from analysts following its first-quarter earnings and its rejection of a buyout offer from Ctrip, China’s leading online travel agency. Qunar reported Q1 revenue of $108.3 million, an increase of 100% from the same quarter a year earlier and topping the consensus estimate. Its per-share loss was less than expected as well. Qunar said that it had rejected the
China travel website Qunar Cayman Islands (QUNR) reported better-than-expected first-quarter results late Monday and revealed that rival Ctrip.com had offered to buy the company. On May 8, Qunar said in the earnings release, “we received an unsolicited offer from Ctrip.com International (CTRP) to acquire all of our outstanding shares. After careful consideration of such offer, we declined to pursue it in a letter response dated June 1, 2015.”
Chinese travel website Qunar (QUNR) was up 10% in early afternoon trading Tuesday, at an 11-month high, after its Q4 earnings late Monday beat Wall Street estimates. Qunar’s revenue doubled over the year-earlier quarter to $83.8 million, beating analysts’ consensus by about $4 million, according to Thomson Reuters. The firm continued to lose money to the tune of 40 cents a share, but that was 4 cents better than analysts expected. For the year,