China Techfaith plunges on Q2 results

China Techfaith (CNTF -10.6%) plunges after the company announces Q2 results.

Revenue grew 6.8% Y/Y to $30.2M. Original Developed Product revenue grew 48.9% Y/Y to $20.1M, Game revenue fell 77.8% Y/Y to $1.6M, and Brand Name Phone Sales revenue fell 28.8% Y/Y to $8.4M. (PR)

Gross profit fell 53.4% Y/Y to $3.4M.

The company provided Q3 guidance for revenue of $29M-$33M. On the conference call, management stated, "We do not expect business levels to improve dramatically over the near term ... [T]he broader environment remains very challenging."

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs