Qutoutiao Inc. (NASDAQ:QTT) spotted trading -77.83% off 52-week high price. On the other end, the stock has been noted 30.26% away from the low price over the last 52-weeks. The stock changed 11.88% to recent value of $4.52. The stock transacted 1671551 shares during most recent day however it has an average volume of 2010.37K shares. The company has 307.16M of outstanding shares.
On Sept. 04, 2019, Qutoutiao Inc. (NASDAQ:QTT) a leading operator of mobile content platforms in China, released its unaudited financial results in the second quarter ended June 30, 2019.
Second Quarter 2019 Highlights
- Combined average MAUs1 reached 119.3 million, representing an increase of 250.2% from 34.1 million in the second quarter of 2018, compared to 111.4 million in the previous quarter.
- Combined average DAUs2 reached 38.7 million, representing an increase of 207.6% from 12.6 million in the second quarter of 2018, compared to 37.5 million in the previous quarter.
- Average daily time spent per DAU was 60.0 minutes, representing an increase of 27.5% from 47.0 minutes in the second quarter of 2018, compared to 62.1 minutes in the previous quarter.
- Net revenues increased 187.9% year-over-year to RMB1,385.9 million (US$201.9 million), within the Company’s guided range between RMB1,380 million and RMB1,420 million.
- Net loss was RMB561.3 million (US$81.8 million), compared to net loss of RMB211.8 million in the second quarter of 2018 and net loss of RMB688.2 million in the first quarter of 2019. Net loss margin was 40.5%, compared to 44.0% in the second quarter of 2018 and 61.5% in the first quarter of 2019.
- Non-GAAP net loss was RMB496.3 million (US$72.3 million), compared to non-GAAP net loss of RMB112.8 million in the second quarter of 2018 and non-GAAP net loss of RMB617.7 million in the first quarter of 2019. Non-GAAP net loss margin was 35.8%, compared to 23.4% in the second quarter of 2018 and 55.2% in the first quarter of 2019.
Mr. Eric Siliang Tan, Chairman and Chief Executive Officer of Qutoutiao, commented,Despite a weak digital advertising market, we have delivered strong revenue growth driven by user base expansion across our products. As the pioneer of the free-to-read model in online literature, Midu Novels has led this new market segment in both scale and content. Through consistent investment into people and content, Midu Novels has built the best coverage of high quality books among the ‘free-to-read’ peers and a strong editor team that will drive the generation of original content. On the Qutoutiao side, we continue to improve our content quality and enhance our compliance standards and capabilities which are well recognized by regulators.
In this quarter, we further improved our efficiency and internal collaboration through modularizing common functionalities, building full function teams, and introducing internal rotation programs for team leaders. I believe this will lay a solid foundation as we continue to upgrade our content offerings, bring more social features to our users and further enhance our monetization in the future, Mr. Tan added.
Its earnings per share (EPS) expected to touch remained 4.40% for this year. QTT has a gross margin of 81.60% and an operating margin of -60.90% while its profit margin remained -61.50% for the last 12 months.
According to the most recent quarter its current ratio was 1.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of 5.26% from the mean of 20 days, 5.12% from mean of 50 days SMA and performed -37.12% from mean of 200 days price. Company’s performance for the week was -8.32%, 25.56% for month and YTD performance remained -28.82%.
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