The fourth quarter revenue of qutoutiao reached 1.302 billion yuan, making an operating profit for the first time

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Tencent technology news on March 4( 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.