Categories Earnings, Technology

Bitauto Holdings Limited (BITA): Q4 2019 Earnings Snapshot

Earnings Update by AlphaStreet

— Bitauto Holdings Limited (NASDAQ: BITA) reported a loss of $1.16 per share in the fourth quarter of 2019, vs $0.30 profit expected.

— Q4 revenue fell 14% to $385.8 million, vs. $396.2 million expected.

— Revenue from the advertising and subscription businessQ4 was $153.7 million compared to $167 million a year ago, mainly due to the decrease in marketing spending by automakers and dealers.

— Expects to generate revenues between $244.2 million and $258.6 million in the first quarter of 2020.

— BITA shares were modestly up during pre-market trading hours.

Also Read:  Intuit posts better-than-expected Q1 results

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