Why Lizhi Inc.'s Shares Popped 31.1% Today
Shares of Chinese audio company Lizhi Inc. (NASDAQ: LIZI) jumped as much as 31.1% on Wednesday after announcing fourth-quarter 2020 financial results. Shares drifted lower throughout the day and closed up 15.5% for the day.
Quarterly revenue rose 15% to $64.4 million as the average number of monthly users increased from 51.9 million to 58.4 million. Revenue easily topped guidance of revenue between $56.9 million and $61.5 million. Net loss for the quarter was $0.9 million.
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Source Fool.com
