QTT - Qutoutiao +7.4% after Q2 sees higher revenues but also user decline from Q1

Qutoutiao (QTT) is up 7.4% in the wake of its Q2 earnings, where it eked out a revenue gain and posted a better-than-expected loss, though it posted user number declines from the first quarter. Revenues grew 4% to 1.441B yuan (about $204M), above the high end of its guidance. And net loss narrowed to 222.1M yuan from a year-ago loss of 561.3M yuan (and Q1's loss of 531.8M yuan). Non-GAAP net loss shrank to 173.3M yuan from a year-ago loss of 496.3M yuan. Combined average monthly active users hit 136.5M, up from a year-ago 119.3M, but down from Q1's 138.3M. And daily active users were 43M, up from a year-ago 38.7M but down from Q1's 45.6M. Average daily time spent per DAU was 55.2 minutes. vs a year-ago 60 minutes, and 62.4 minutes in Q1. Revenue breakout: Advertising and marketing, 1.378B yuan (up 1.5%); other, 62.9M yuan (up 125%). For

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Qutoutiao +7.4% after Q2 sees higher revenues, but also user decline from Q1