Latest News:  

English>>Business

Youku Tudou's losses ease as merger gains

(Shanghai Daily)

10:41, May 17, 2013

Youku Tudou Inc, China's leading online video company, reported narrower losses in the first quarter as the merger between the country's two leading online TV sites showed progress.

Losses in the three months eased to 232.5 million yuan (US$37.5 million) from 265.5 million yuan the in same period a year ago.

The firm's quarterly revenue surged 20 percent from a year ago to 516 million yuan in the first three months, according to a stock exchange filing yesterday.

Advertising made up most of its revenue, providing 429 million yuan.

"We are in the final phase of the merger integration process with Tudou and have completed the restructuring of our sales team in the first quarter," Victor Koo, chairman and CEO of Youku Tudou, said in the statement.

The company expects income of 720 million yuan to 770 million yuan in the second quarter.

China's overall online video market soared 39.5 percent from a year ago to 2.4 billion yuan, research firm iResearch Inc said in a recent report.

Both US-listed Youku and Tudou merged in a US$1.04-billion share swap in early 2012.

We Recommend:

Successful women:
Rich and beauty

Sweet 'lovers hotel' making good profit

Americans would shun
a Chinese brand

Jack Ma to resign as
Alibaba CEO: Video

Int'l auto show kicks off in SW China

Top 10 most profitable
public companies

Sony releases super
slim table in Hong Kong

Spring hopes maid themes will draw numbers

Quake-hit ebony carving struggling to recover

Email|Print|Comments(Editor:ChenLidan、Ye Xin)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Fighter pilots complete first parachute jumping

  2. Female special operation members

  3. Hindu labourers move to escape heat

  4. Photo story: Child models' adult world

  5. Child molestation case takes a new turn

  6. Foggy river
    in E China

  7. Gorgeous Miss Tourism candidates

  8. Hot baseball cheerleading squads

  9. The man of mystery opens up

  10. Silkworm breeding in S China

Most Popular

Opinions

  1. AP probe embodies tension between US govt, media
  2. Protectionism no painkiller for Europe
  3. Culture key to sustainable development
  4. Ten white papers, road to human rights protection
  5. Teen's tragedy reveals child abuse problems
  6. People with depression show disrupted brain 'clock'
  7. iPad obsession hurting child's development
  8. Positive signs in Europe hard won
  9. Who do psychiatrists turn to for therapy?

What’s happening in China

Deaths prompt concerns over elevator safety

  1. H7N9-hit Zhejiang ends emergency response
  2. Fire breaks out at Sinopec refinery in Pudong
  3. China provides life for Indian family
  4. China allocates 9.4 bln USD for public housing
  5. FedEx pledges fund to assist Sichuan quake relief