Jupai Holdings (JP) Reports Q2 Loss of $0.04 on Revenues of $15.3M

Jupai Holdings (NYSE: JP) reported Q2 EPS of ($0.04). Revenue for the quarter came in at $15.3 million.

"Jupai's bottom line improved sequentially in the second quarter, as our effective cost control measures helped to offset the market challenges created by ongoing investor caution during the economic recovery following the outbreak of COVID-19," said Mr. Jianda Ni, Jupai's chairman of the board and chief executive officer. "We remain confident in the long-term outlook for Jupai and China\'s wealth management industry and will continue to focus on controlling costs, providing high-quality products, and optimizing our risk control system."

Ms. Min Liu, Jupai\'s chief financial officer, said, "Our total operating cost and expenses in the second quarter declined by 49.2% compared with the same period last year while cost of revenues decreased by 42.7%. This is mainly attributable to our continuous efforts to control costs, which we expect will help to further improve our bottom-line and enhance operating efficiencies in the coming quarters."

For earnings history and earnings-related data on Jupai Holdings (JP) click here.

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