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Sunris3
2021-09-08

CooTek surges after return to profitability in second quarter

CooTek shares are on the rise after the company reported its Q2 results. Net revenues fell 34% Y/Y

CooTek surges after return to profitability in second quarter

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We will further expand the scale of our product portfolio, improve our user experience and user stickiness and enhance our monetization capabilities. 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The decline was primarily attributed to a decrease in mobile advertising revenues, which ...</p>\n\n<a href=\"https://seekingalpha.com/news/3737962-cootek-surges-after-return-to-profitability-in-second-quarter\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CTK":"触宝"},"source_url":"https://seekingalpha.com/news/3737962-cootek-surges-after-return-to-profitability-in-second-quarter","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1104407131","content_text":"CooTek shares are on the rise after the company reported its Q2 results.\n\nNet revenues fell 34% Y/Y to $83.2M. The decline was primarily attributed to a decrease in mobile advertising revenues, which fell 35% Y/Y to $82.1M.\nCooTek's portfolio products contributed ~99% of total revenues, with a focus on three main categories: online literature, mobile games and scenario-based content apps\nAverage daily active users of the company's portfolio products were 23.5M (-2% Y/Y).\nThe mobile internet company returned to profitability in the quarter, generating net income of $0.3M vs. net loss of -$12.4M last quarter and net income of $3.1M during the same period last year.\nAdjusted net income was $1.1M vs. adjusted net loss of $11.1M last quarter, and adjusted net income of $4.5M a year ago.\nThe company ended the quarter with cash, cash equivalents and restricted cash of $39M, compared with $56.1M as of March 31, 2021.\nRobert Cui, CooTek's CFO commented, \"As focusing on upgrading our business model, we have been optimizing the balance between our marketing and monetization strategies which resulted in the achievement of group-level profitability in the second quarter of 2021. We will further expand the scale of our product portfolio, improve our user experience and user stickiness and enhance our monetization capabilities. We are confident in delivering a robust and stable long-term growth.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":255,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}

CooTek surges after return to profitability in second quarter

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