Why Aurora Mobile Stock Tanked Today
Shares of Aurora Mobile (NASDAQ: JG) tanked by as much as 11% today after the company reported fourth-quarter earnings. The tech specialist's sales fell and losses widened.
Revenue in the fourth quarter declined 42% to 106 million yuan ($16.2 million), which resulted in an adjusted net loss of 29.4 million yuan ($4.5 million). When looking at just the software-as-a-service (SaaS) segments, revenue increased 17% to 76.6 million yuan ($11.7 million). Aurora Mobile recently completed the wind down of its targeted marketing business, which was the primary reason why total revenue fell so much.
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Source Fool.com
