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October 24, 2020

The Post Wired

News On Trending

Notable News to Watch: Qutoutiao Inc. (NASDAQ:QTT)

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Qutoutiao Inc. (NASDAQ:QTT) spotted trading -63.05% off 52-week high price. On the other end, the stock has been noted 10.00% away from the low price over the last 52-weeks. The stock changed -2.02% to recent value of $2.42. The stock transacted 2833214 shares during most recent day however it has an average volume of 1.96M shares. The company has 285.63M of outstanding shares and 166.58M shares were floated in the market.

On Sept. 21, 2020, Qutoutiao Inc. (NASDAQ:QTT) a leading operator of mobile content platforms in China, revealed its unaudited financial results in the second quarter ended June 30, 2020.

Second Quarter 2020 Highlights

  • Combined average MAUs1 were 136.5 million, compared to 119.3 million in the second quarter of 2019 and 138.3 million in the first quarter of 2020.
  • Combined average DAUs2 were 43.0 million, compared to 38.7 million in the second quarter of 2019 and 45.6 million in the first quarter of 2020.
  • Average daily time spent per DAU was 55.2 minutes, compared to 60.0 minutes in the second quarter of 2019 and 62.4 minutes in the first quarter of 2020.
  • Net revenues increased 4.0% year-over-year to RMB1,441.0 million (US$204.0 million), compared to RMB1,411.8 million in the first quarter of 2020, above the high end of the Company’s guided range of RMB1,410 million and RMB1,430 million.
  • Net loss was RMB222.1 million (US$31.4 million), compared to net loss of RMB561.3 million in the second quarter of 2019 and net loss of RMB531.8 million in the first quarter of 2020. Net loss margin was 15.4%, compared to 40.5% in the second quarter of 2019 and 37.7% in the first quarter of 2020.
  • Non-GAAP net loss3 was RMB173.3 million (US$24.5 million), compared to non-GAAP net loss of RMB496.3 million in the second quarter of 2019 and non-GAAP net loss of RMB388.1 million in the first quarter of 2020. Non-GAAP net loss margin was 12.0%, compared to 35.8% in the second quarter of 2019 and 27.5% in the first quarter of 2020. Its earnings per share (EPS) expected to touch remained 32.00% for this year. QTT has a gross margin of 68.90%.

According to the most recent quarter its current ratio was 1.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of -7.86% from the mean of 20 days, -15.17% from mean of 50 days SMA and performed -27.37% from mean of 200 days price. Company’s performance for the week was -11.03%, -10.70% for month and YTD performance remained -29.03%.