China’s Youku Reported Q2 Revenue Of $61 Million, A 96% Increase From Same Period 2011

Posted on Aug 7 2012 - 6:28am by Editorial Staff

China’s internet television company Youku today announced its unaudited financial results for the second quarter 2012. The company reported the net revenues of RMB387.4 million ($61 million), a 96% increase from the corresponding period in 2011. Gross profit was RMB76.9 million ($12.1 million), a 45% increase from the corresponding period in 2011. Non-GAAP gross profit was RMB79.5 million (US$12.5 million) in the second quarter of 2012, a 48% increase from the corresponding period in 2011.

Net loss was RMB62.8 million ($9.9 million), as compared to a net loss of RMB28.1 million ($4.4 million) for the same period in 2011. Non-GAAP net loss was RMB29.3 million ($4.6 million) in the second quarter of 2012, as compared to the non-GAAP net loss of RMB20.8 million ($3.3 million) in the corresponding period in 2011.

Basic and diluted loss per ADS, each representing 18 Class A ordinary shares, for the second quarter of 2012 amounted to RMB0.54 ($0.09) and RMB0.54 ($0.09), respectively. Cash, cash equivalents and short-term investments totaled RMB3.5 billion ($546.6 million) as of June 30, 2012.

Acquisition of property and equipment for the second quarter of 2012 was RMB22.6 million ($3.6 million), as compared to RMB18.9 million ($3.0 million) for the same period in 2011. Acquisition of intangible assets for the second quarter of 2012 was RMB51.6 million ($8.1 million), as compared to RMB144.2 million ($22.7 million) for the same period in 2011.

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