Qutoutiao (QTT) Tops Q2 EPS by 3c, Revenue Comes in Light, Offers Guidance

Qutoutiao (NASDAQ: QTT) reported Q2 EPS of ($0.09), $0.03 better than the analyst estimate of ($0.12). Revenue for the quarter came in at $204 million versus the consensus estimate of $210.03 million.

Business Outlook

For the third quarter of 2020, the Company currently expects net revenues to be between RMB1,130 million and RMB1,150 million, representing a decrease of 18% to 20% year-over-year. The Company also expects loss from operations to be narrowed significantly on a year-over-year basis and flat on a quarter-over-quarter basis. This outlook reflects Qutoutiao’s current and preliminary view including preliminary assessment on the potential impacts from the CCTV Report, which is subject to uncertainty.

For earnings history and earnings-related data on Qutoutiao (QTT) click here.

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