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In 2020, the annual revenue is 5.285 billion yuan, exceeding the market expectation From Interesting headlines

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March 4, headline( NASDAQ:QTT )Officially released the fourth quarter and annual financial report of 2020. According to the financial report, the total operating revenue of qutoutiao in 2020 reached 5.285 billion yuan, of which the operating revenue in the fourth quarter was 1.302 billion yuan, a month on month increase of 15.3%, exceeding the market expectation.

It is worth noting that qutoutiao ushered in the turning point of performance. Under the non US general accounting standards, the operating profit in the fourth quarter reached 42.5 million yuan, the first quarterly profit since listing.

Tan siliang, chairman and CEO of qutoutiao, said: “throughout the year, we are committed to providing users with rich and interesting content to realize the sustainable development of the business, and achieved returns in the fourth quarter. In 2021, we will continue to enrich the content ecology, optimize the algorithm technology, and promote the strong growth of users and revenue scale. At the same time, we will strengthen our investment and support in meter reading, achieve the goal of doubling the users and income of meter reading in the second half of the year, and continue to maintain our leading position in the field of free reading. “

In addition, qutoutiao also announced that Midu was once again approved by capital in the fourth quarter and completed US $110 million round C financing. More reading: Fun headlines: Q4 Kwai first realized quarterly profit in 2020, and completed the $110 million C round of financing, and the headlines were released. The earnings rose sharply in the two quarter of the past two years, and 1 billion 440 million yuan in the two quarter, exceeding the expected headlines. In 2019, the revenue of the top strip was 5 billion 570 million yuan, up 84.3% meters compared with the previous year. Rectification measures reported in the evening party set up a special working group for advertising ecological management, invested heavily in AI technology polishing algorithm recommendation engine against the market, with R & D investment of 281 million yuan in 2020q1, with revenue of 1.412 billion yuan in 1q20, a year-on-year increase of 26.2% and average monthly active users of 138 million yuan, a year-on-year increase of 24.2%. Financial report of Q3 in 2020, a year-on-year decrease It is expected to achieve profit in the fourth quarter, and the revenue in the second quarter of 2020 will be 1.44 billion yuan, exceeding the expectation. Deeply cultivate the content and promote the upgrading of the organization. The revenue in 2019 will be 5.57 billion yuan Penguin think tank with 84.3% year-on-year growth?

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