Youku loss narrows as sales rise
By Ding Yining |
March 2, 2013, Saturday
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Print Edition
Print Edition
YOUKU Tudou Inc yesterday reported a smaller net loss in the fourth quarter from a year ago as the merger of China's top two video sites boosted market share and profitability.
Youku Tudou's loss was down 43 percent to 114 million yuan (US$18.2 million), with revenue climbing 30 percent to 636 million yuan, it said in a statement.
Youku took over Tudou and the latter was delisted from the Nasdaq exchange in a US$864 million share swap deal last year. The transaction was completed in August.
Youku Tudou completed combining the advertising network of the two websites and said it is now merging the two sales teams to deliver better synergies.
Youku Tudou's loss was down 43 percent to 114 million yuan (US$18.2 million), with revenue climbing 30 percent to 636 million yuan, it said in a statement.
Youku took over Tudou and the latter was delisted from the Nasdaq exchange in a US$864 million share swap deal last year. The transaction was completed in August.
Youku Tudou completed combining the advertising network of the two websites and said it is now merging the two sales teams to deliver better synergies.
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