China Finance Online (JRJC) Reports Q1 Loss of $0.23 per ADS on Revenues of $13.3M

China Finance Online (NASDAQ: JRJC) reported Q1 EPS of ($0.23). Revenue for the quarter came in at $13.3 million.

First Quarter 2018 Financial Highlights

• Net revenues grew 53.1% year-over-year to $13.3 million from $8.7 million in the first quarter of 2017
• Revenues from the financial information and advisory business grew 72.7% year-over-year
• Revenues from financial services grew 24.3% year-over-year
• Gross margin increased to 61.9%, up from 46.4% in the first quarter of 2017
• Net loss attributable to China Finance Online was $5.2 million, compared with a net loss of $11.6 million in the first quarter of 2017
• Lingxi Robo-Advisor outperformed most of its peer products in the Chinese market with an average return of 2.4% and average drawdown rate of 4.0% in the first quarter of 2018. In the first quarter of 2018, the aggressive portfolio of Lingxi has beat 92% of equity funds and hybrid funds in terms of return.

Mr. Zhiwei Zhao, Chairman and CEO of China Finance Online, commented, "As we continued to ramp up our cloud-based software sales, our bottom line losses narrowed. After four quarters of streamlining our business units, our efficiency reached a new recent high. With the bulk of our investment in our cloud system and user interface completed, we will continue to improve operational efficiency and leverage our intelligent-finance driven fintech business to drive better economy of scale."

"We will continue to focus on fundamental operational measures to further strength our professional journalism and content quality. We strongly believe that our continued improvement on content will be recognized by more and more readers of financial market news,"

"During the development and extension of our new product for the enterprise market, Genius Zhisheng, a cloud-based one-stop investment research platform for institutional investors, we continued to find new services scenarios. Our products and services draw interest from brokerage firms and wealth management advisors. As more potential users are partaking beta testing, we have started monetizing our products and services for enterprise market gradually," Mr. Zhao concluded.

For earnings history and earnings-related data on China Finance Online (JRJC) click here.

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