QTT - Qutoutiao +4% after earnings beats

June, 04 2020 11:13 AM Qutoutiao Inc.

Qutoutiao (NASDAQ:QTT) +4% after Q1 results beats top and bottom line estimates.
Q1 highlights: Total revenues +26% Y/Y to RMB1.41B (~$199.4M); Core advertising and marketing revenues +25.5% to RMB1.36B.
Gross profit was RMB951.0M (+13.3% Y/Y). Gross margin was 67.4% vs. a 75% year ago.
R&D expenses were RMB280.9M (+80.8%).
Combined average MAUs were 138.3M (+24.2 Y/Y) and DAUs were 45.6M (21.5%).
The Company had cash, cash equivalents, restricted cash and short-term investments of ~RMB1.152B (March 31st).
The company expects Q2 net revenues in the range of RMB1.41B to RMB1.43B.
Previously: Qutoutiao EPS beats by $0.03, beats on revenue (June 4)
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