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Seven Stars Cloud Reports Q1 2018 Results
|·||Q1 2018 revenue of $186 million (+461% vs. Q1 2017 and compared to $144 million for Full Year 2017)|
|·||Earnings Release Conference Call to be held Tuesday May 15, 2018 at 4:05 p.m. ET|
New York, NY, May 15, 2018 – Seven Stars Cloud Group, Inc. (NASDAQ: SSC) (“SSC” or the “Company”), announced today its Q1 2018 operating results for the period ended March 31, 2018 (a full copy of the Company’s quarterly report on Form 10-Q will also be posted at www.sec.gov).
Conference Call: SSC’s management, including Bruno Wu (Executive Chairman & CEO), Bob Benya (President, Director & Chief Revenue Officer), and Jason Wu (Interim CFO), will host an earnings release conference call at 4:05 p.m. on Tuesday, May 15, U.S. Eastern Time (4:05 a.m. on Wednesday, May 16, Beijing/Hong Kong Time).
To join the webcast,
please visit the ‘Events & Presentations’ section of the
SSC corporate website (http://www.sevenstarscloud.com/events), or click SSC Earnings Webcast
or call the toll-free dial-in number: 877-407-3107; International callers should dial: 201-493-6796.
SSC Q1 2018 OPERATING RESULTS
Revenue for Q1 2018 was $185.9 million as compared to $33.2 million for the same period in 2017, an increase of approximately $152.8 million, or 461%. The increase was primarily due to our expanding business in crude oil trading which began in October 2017.
Cost of revenue was approximately $185.5 million in Q1 2018, as compared to $29.3 million for the same period in 2017. Our cost of revenue increased by $156.2 million which is in line with our increase in revenue. Cost of revenue is primarily comprised of costs to purchase electronic products and crude oil from suppliers in our supply chain management business.
The following information was filed by Seven Stars Cloud Group, Inc. (SSC) on Monday, May 21, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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