Qutoutiao reported fourth-quarter losses of 398 million renminbi, or $57.9 million, on revenue of 1.33 billion renminbi, or about $193 million, up more than 400% from the year before. After adjusting for stock-based compensation and other effects, the company claimed net losses of $53.3 million, or 22 cents a share. Analysts on average expected adjusted losses of 19 cents a share on revenue of $192.3 million, according to FactSet. The company predicted 2019 revenue of 7.5 billion to 8.
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Why do we allow these Communist ponzi schemes to steal from our capital markets?