Jianpu Technology Inc. (JT) Reports Q2 Revenues Above Consensus

Jianpu Technology Inc. (NYSE: JT) reported Q2 EPS of ($0.05), $0.01 worse than the analyst estimate of ($0.04). Revenue for the quarter came in at $74.1 million versus the consensus estimate of $61.04 million.

Mr. David Ye, Chairman and Chief Executive Officer of Jianpu, commented, "We are pleased with solid operating and financial performance for the second quarter of 2018, highlighted by continued robust growth in both our credit card and loan application business. We're also encouraged by rising demand for our big data and risk management services in the quarter in light of more competition and the evolving regulatory framework in the financial service sector. Our cooperation with financial service providers is becoming more diversified, with an increasing scope and depth to these collaborations. As a platform, Jianpu is dedicated to maintaining independent and open to enable financial service providers and deepening our relationship with them through complementary cross selling of our products and services."

"During the second quarter, we remained focus on enhancing our operating efficiency, with non-GAAP adjusted net margin improving to -5.8% from -6.6% in the second quarter of 2017. (GAAP equivalent measure net loss margin was -12.5% in the second quarter of 2018 compared with -6.8% in the same period of 2017.) At the same time, we further expanded our R&D and marketing capabilities to fuel our future growth. We have successfully applied big data and AI technology through-out the user journey from acquisition to pre-underwriting. We are optimistic about our development prospects and expect such initiatives will benefit our growth and efficiency in the medium to long run." concluded Mr.Ye.

"We are happy to maintain our strong growth momentum in the second quarter, despite the industry and regulatary uncertainties," said Oscar Chen, Chief Financial Officer of Jianpu. "Our revenues increased almost 92% year-over-year and 46% quarter-over-quarter, reflecting a gradual recovery of our industry and exceeding our expectations. Our credit card business continued to demonstrate a robust growth trajectory in this quarter, delivering a 356% year-over-year increase in revenue through healthy growth in both volume and average fees. The strong financial performance gives us confidence that we are executing the right business strategy."

For earnings history and earnings-related data on Jianpu Technology Inc. (JT) click here.

You May Also Be Interested In

• Grandstand Limited (GRSD) Tops Q2 EPS by 5c; Offers Guidance
• MDxHealth SA (MDXH) Misses Q2 EPS by 1c ; Offers Guidance
• Firy Inc. (FIRY) Misses Q2 EPS by 68c