MOGU Announces Third Quarter Fiscal Year 2020 Unaudited Financial Results
by Finance Yahoo 2020-03-13
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source: chinanews

MOGU Inc. (NYSE: MOGU) ("MOGU" or the "Company"), a leading online fashion and lifestyle destination in China, today announced its unaudited financial results for the third quarter of fiscal year 2020 ended December 31, 2019.

- Live Video Broadcast Business ("LVB") Maintained Robust Growth Momentum with GMV Nearly Doubling Year-over-Year

- LVB Accounted for 53% of GMV, Up 14% Sequentially

- LVB GMV Grew by 155% and 120% Year-over-Year During "Double-11" and "Double-12" Shopping Festivals, Respectively

- LVB Average MAUs Increased 132.7% Year-over-Year

Mr. Qi Chen, Chairman and Chief Executive Officer of MOGU, commented "We continued to execute on our innovative LVB e-commerce strategy during China’s peak shopping season. Our LVB business continued to gain strong growth momentum, increasing 99.5% year-over-year during the quarter as it increasingly accounts for a more meaningful proportion of GMV which increased to 53.2%, up 14.3% sequentially. LVB hours per day also continued to rise, eclipsing 3,800 hours per day in December 2019, up from 3,400 hours per day in September 2019. I believe these strong results reflect the success we expect to see going forward as our strategy begins to bear more fruit."