Jianpu Technology Inc. (JT) Reports Q3 Loss of $0.15, Revenues Miss

Jianpu Technology Inc. (NYSE: JT) reported Q3 earnings per ADS of ($0.15). Revenue for the quarter came in at $64.6 million versus the consensus estimate of $89.67 million.

Mr. David Ye, Chairman and Chief Executive Officer of Jianpu, commented, "During the third quarter, we kept our focus on capturing market dynamics through our uniquely technology-driven and diversified platform, while improving our operating efficiencies by adding and strengthening FSPs portfolio and enhancing user engagement. We maintained robust momentum in our credit card business this quarter posting a 175% year-over-year increase in revenue, and we also exhibited strong growth in our big data and risk management business which achieved a 180% year-over-year revenue increase. Also, we are delighted with the healthy ROI improvement for the quarter, as we have opted for more balanced strategy between growth and efficiency and benefiting from the traffic growth driven by social media and partner initiatives."

"Despite weak sentiment on the macro economy and continued credit tightening in the quarter, we have observed a subsequent recovery in September and coming into the fourth quarter. We are confident that we are in a position to further benefit from stronger consumer and SME demand and growth at FSPs side as the operating environment further improves," concluded Mr. Ye.

"We are pleased to report that Jianpu delivered respectable financial and operational results for the third quarter of 2018 despite of macro slowdown," said Oscar Chen, Chief Financial Officer of Jianpu. "Total revenues for the third quarter of 2018 reached RMB443.7 million (US$64.6 million), exceeding our previous guidance by 7%. In addition, we further reduced our adjusted net loss margin to -4.5% from -5.8% in the last quarter, which is largely attributable to the improvement of operating efficiencies. Looking ahead, we maintain our utmost confidence in our business strategy, strong fundamentals and long-term prospects, as well as our commitment to maximize shareholder value."

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

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