TuanChe Announces Unaudited First Quarter 2020 Financial Results
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TuanChe (TC) Reports Q1 Loss of $0.02, Revenues Beat
July 2, 2020 6:05 AM EDTTuanChe (NASDAQ: TC) reported Q1 EPS of ($0.02). Revenue for the quarter came in at $1.4 million versus the consensus estimate of $1.29 million.
Key First Quarter 2020 Financial and Operating Metrics Compared with the Prior Year Period
The Company's financial and operational results for the first quarter of 2020 have been materially and adversely impacted by the COVID-19 pandemic:
Net revenues decreased by 92.1% to RMB9.7 million (US$1.4 million) from RMB122.9 million.Gross profit decreased by 93.6% to RMB5.7 million (US$0.8 million) from RMB88.9 million. Gross margin decreased to 58.6% from 72.4%.Quarterly number of... More