NQ Mobile Inc. Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2016
November 30, 2016 at 05:00 pm EST
NQ Mobile Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2016. For the third quarter, the company reported total net revenues of $91,102,000 against $87,944,000 a year ago. Loss from operations was $3,337,000 against profit from operations of $195,000 a year ago. Loss before income taxes was $4,116,000 against $123,000 a year ago. Net loss was $2,402,000 against $17,641,000 a year ago. Net loss attributable to company was $9,022,000 against $2,488,000 a year ago. Net loss per class A and class b common share basic and diluted was $0.0182 against $0.0053 a year ago. Non-GAAP income from operations was $3,353,000 against $1,274,000 a year ago. Non-GAAP net loss attributable to company was $181,000 or $0.0018 per diluted share against profit of $609,000 or $0.0064 per diluted share a year ago. Net cash used in operations for the third quarter of 2016 was $11.3 million.
For nine months, the company reported total net revenues of $248,331,000 against $279,216,000 a year ago. Loss from operations was $3,591,000 against $152,209,000 a year ago. Loss before income taxes was $3,972,000 against $16,443,000 a year ago. Net loss was $19,611,000 against net loss of $57,267,000 a year ago. Net loss attributable to company was $16,344,000 against $21,176,000 a year ago. Net loss per class A and class b diluted common share basic and diluted was $0.0333 against $0.0456 a year ago. Non-GAAP income from operations was $19,298,000 against $4,861,000 a year ago. Non-GAAP net income attributable to company was $11,954,000 or $0.1201 per diluted share against $6,761,000 or $0.0713 per diluted share a year ago.