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Surging ad sales helps Youku cut losses by 55% in Q2
By Ding Yining |
August 9, 2011, Tuesday
|
Online Edition
Online Edition
CHINA'S most popular online video website, Youku.com, narrowed its losses in the second quarter with increased advertising sales.
Net loss shrank 55 percent from the same period last year to US$4.4 million in the three months ended June 30, the Beijing-based website said in a statement today.
Sales surged 178 percent to US$30.6 million as advertisers spend more on Youku.com to lure customer.
Youku spent US$7.7 million in the last quarter to expand its licensed video contents.
Last December it raised US$233 million from initial public offering on the New York Stock Exchange and its share price more than doubled on the first day of trading. But it share price has tumbled 33 percent since.
Advertising revenue of domestic video sites nearly doubled from a year ago to 1 billion yuan (US$155 million) in the second quarter as advertisers step up marketing efforts and increase their spending on video sites, according to a report by research firm, Analysys International.
The company estimated that the third quarter advertising income would grow 110 percent to 120 percent from the same period last year.
Net loss shrank 55 percent from the same period last year to US$4.4 million in the three months ended June 30, the Beijing-based website said in a statement today.
Sales surged 178 percent to US$30.6 million as advertisers spend more on Youku.com to lure customer.
Youku spent US$7.7 million in the last quarter to expand its licensed video contents.
Last December it raised US$233 million from initial public offering on the New York Stock Exchange and its share price more than doubled on the first day of trading. But it share price has tumbled 33 percent since.
Advertising revenue of domestic video sites nearly doubled from a year ago to 1 billion yuan (US$155 million) in the second quarter as advertisers step up marketing efforts and increase their spending on video sites, according to a report by research firm, Analysys International.
The company estimated that the third quarter advertising income would grow 110 percent to 120 percent from the same period last year.
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