Mogu Inc: Down as merchants stay away from platform upgrades

MOGU

26/08/2019 14:24

** Shares of Chinese online fashion and lifestyle e-commerce
company  MOGU.N  fall 16.1% to $3.05 premarket
    ** Company posts lower Q1 revenue of RMB248.9 mln vs
RMB255.9 mln a year earlier, citing weakness in marketing
revenue
    ** Blames decrease in marketing services revenue as its live
video broadcast business created a lack of marketing service
properties and a digital upgrade to its platform reduced the
number of merchants  urn:newsml:reuters.com:*:nBw8k3v7na
    ** However, MOGU posts smaller Q1 adjusted loss of RMB42.3
mln vs adjusted loss of RMB74.9 mln in prior year quarter
    ** YTD, stock had plunged 82.3%

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6749 8878; Reuters Messaging:
Ashwini.Raj@thomsonreuters.com@reuters.net))