Seven Stars Cloud Group, Inc. (SSC) Reports Q2 Loss of $0.12, Revenues Beat

Seven Stars Cloud Group, Inc. (NASDAQ: SSC) reported Q2 EPS of ($0.12). Revenue for the quarter came in at $133 million versus the consensus estimate of $37.63 million.

Chairman and CEO Bruno Wu stated, "We are performing at a high-level across the organization and, as a result, we are on a path to execute on our strategy in the second half of 2018. We are positioning the Company to be a leading global fintech and asset digitization service provider, and we are setting the Company on a track for high-growth and profitability. SSC will begin to realize the full potential of the assets and partnerships that will drive the Company's four key product engines – all with operations and actual clients due to go-live in 2018. We fully expect these assets and partnerships to help generate significant shareholder value over the long term. This momentum, along with the continued intensity and focus on execution displayed by our management team, provides us with a strong foundation from which to achieve our core objective, that is establishing SSC as the market leader in global asset digitization and delivering value to our shareholders."

CFO Federico Tovar stated, "We have continued our strong revenue growth YTD 2018, after the significant growth already experienced in Q1, and we are well-positioned for the second half of the year. We have made positive growth-based investments in our new Corporate Headquarters as a FinTech services company in the heart of Wall Street, and management-based incentives which enable us to attract and retain top talent in order to execute on our 4+2+1 Strategy. We anticipate our progression into high-margin blockchain products, currently in our pipeline, which will have a positive impact on our financials and begin to demonstrate the type of profitability the Company can attain for long-term value creation."

For earnings history and earnings-related data on Seven Stars Cloud Group, Inc. (SSC) click here.

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