Qutoutiao Inc. Reports First Quarter 2020 Unaudited Financial Results
Qutoutiao Inc. - American Depositary Shares (QTT)
Last qutoutiao inc. - american depositary shares earnings: 3/18 05:30 am
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Source: GlobeNewswire
SHANGHAI, China, June 04, 2020 (GLOBE NEWSWIRE) -- Qutoutiao Inc. (“Qutoutiao”, the “Company” or “We”) (NASDAQ: QTT), a leading operator of mobile content platforms in China, today announced its unaudited financial results in the first quarter ended March 31, 2020. First Quarter 2020 Highlights Combined average MAUs1 were 138.3 million, representing an increase of 24.2% from 111.4 million in the first quarter of 2019, compared to 137.9 million in the previous quarter.Combined average DAUs2 were 45.6 million, representing an increase of 21.5% from 37.5 million in the first quarter of 2019, compared to 45.7 million in the previous quarter.Average daily time spent per DAU was 62.4 minutes, compared to 62.1 minutes in the first quarter of 2019 and 59.4 minutes in the previous quarter.Net revenues increased 26.2% year-over-year to RMB1,411.8 million (US$199.4 million), within the Company’s guided range of RMB1,400 million and RMB1,420 million.Net loss was RMB531.8 million (US$75.1 mil
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