Benzinga | Aug 20, 2020 07:03AM EDT

Scienjoy Holding Corporation Q2 Sales $33.3M, Adj. EPS $0.29

Second Quarter 2020 Operating and Financial Highlights

* Total net revenues increased by 8.9% to RMB235.2 million (US$33.3 million) from RMB215.9 million in the same period of 2019.

* Gross profit increased by 45.8% to RMB58.8 million (US$8.3 million) from RMB40.3 million in the same period of 2019. Gross margin expanded to 25.0% from 18.7% in the same period of 2019.

* Net income increased by 282.2% to RMB121.7 million (US$17.2 million) from RMB31.8 million in the same period of 2019. Net margin expanded to 51.7% from 14.7% in the same period of 2019.

* Adjusted net income[1] increased by 37.6% to RMB43.8 million (US$6.2 million) from RMB31.8 million in the same period of 2019. Adjusted net margin expanded to 18.6% from 14.7% in the same period of 2019.

* Total paying users increased by 41.2% to 277,604 from 196,592 in the same period of 2019.

* Total number of broadcasters increased by 41.7% to 19,601 from 13,836 in the same period of 2019.