Is It Time To Review Stock News? Qutoutiao Inc. (NASDAQ:QTT)

Qutoutiao Inc. (NASDAQ:QTT) stock identified change of 18.73% away from 52-week low price and recently located move of -79.79% off 52-week high price. It has market worth of $1185.2M. QTT stock has been recorded -4.38% away from 50 day moving average and -42.60% away from 200 day moving average. Moving closer, we can see that shares have been trading -5.40% off 20-day moving average.

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.

 The Technology sector company, Qutoutiao Inc. noticed change of 0.49% to $4.12 along volume of 1667183 shares in recent session compared to an average volume of 2039.54K. The stock observed return of -16.43% in 5 days trading activity. The stock was at 11.65% over one month performance. QTT’s shares are at -6.15% for the quarter is now at -35.12% since this point in 2018. 

 The average volatility for the week at 11.02% and for month was at 7.37%. There are 287.67M shares outstanding.  

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