— China-based tech firm Qutoutiao Inc. (NASDAQ: QTT) reported an adjusted loss of $0.46 per ADS for the third quarter of 2019, vs. a $0.35 per ADS loss expected.
— Net loss attributable shareholders was RMB 891.8 million ($124.8 million), compared to a loss of RMB 1.06 billion a year earlier
— Net revenues increased 44% annually to RMB 1.41 billion ($196.8 million) during the three-month period, vs. $196.4 million expected
— Advertising and marketing revenues climbed 54% to RMB 1.38 billion, while other revenues declined 69%
— In the third quarter, combined average MAUs more than doubled year-over-year to 133.9 million, and combined average DAUs surged 98% to 42.1 million
— Average daily time spent per DAU was 61.3 minutes, up from 55.9 minutes reported in the third quarter of 2018
— Expects net revenues to be between RMB 1.60 billion and RMB 1.62 billion in the fourth quarter of 2019