Mogu eyes best day in more than 3 months on smaller Q4 loss
28/05/2021 11:07
** U.S.-listed shares of Chinese e-commerce co MOGU.K up
10.46% to $1.69 premarket, their biggest pct gain since Feb. 17
** Co posts Q4 adj net loss of 16.4 mln yuan, much smaller
than 79.3 mln yuan in the year-ago period; adj EBITDA loss also
narrows to 20.1 mln yuan
** Bottom line improves due to optimized spending on
branding and user acquisition activities urn:newsml:reuters.com:*:nBwc5V7pSa
** Total rev decreases by 23.6% to 90.9 mln yuan, hurt by
weak performance in its commission and marketing services
businesses and lower online direct sales
** Gross merchandise value (GMV) rose 6.5% to 2.58 bln yuan
y-o-y, with live broadcast business GMV accounting for 87.2%
share
** Two brokerages covering the stock rate it "buy" or
higher; their median PT is $2.80 - Refinitiv data
** Shares down 29.5% for the year
(Reporting by Devik Jain in Bengaluru)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))