Video giant sees loss narrowing
Print Edition
CHINA’S largest online video site Youku Tudou Inc posted a narrower loss in the second quarter, with increasing income after the country’s two top video sites merged last year.
Net loss was down 40 percent from a year ago to 105 million yuan (US$16.9 million), while revenue stood at 754 million yuan — up 30 percent from the same period a year ago, according to a stock exchange filing yesterday.
Advertising income was 726.6 million yuan.
“The number of daily video views on mobile devices has been more than doubling in the first half of the year, and we’re extending our presence in multiple screens,” Youku Tudou Chairman and Chief Executive Officer Victor Koo said.
Youku and Tudou announced their merger plan in March last year in a US$1.04 billion share-swap agreement.
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