Tudou.com Made Net Losses Of USD24.4 Million In Q2 2012
Chinese Internet video website Tudou.com has published its Q2 financial report ended June 30, 2012, stating that the company made losses of CNY154.7 million, which was about USD24.4 million, during the reporting period.
According to the report, Tudou.com’s net operating revenue was CNY171.9 million in the second quarter of 2012, a year-on-year increase of 47.3%. The revenue growth was mainly promoted by the increases of online advertising operating revenue, mobile video service operating revenue, and operating revenue from other licensing businesses. For details, the company’s online advertising operating revenue was CNY150.7 million, a year-on-year increase of 47.4%; its mobile video service operating revenue was CNY16.7 million, a year-on-year increase of 50.6%; and its operating revenue from other licensing businesses was CNY4.5 million, a year-on-year increase of 34.2%.
However, the Chinese Internet video company still made net losses of CNY154.7 million; while its net losses excluding equity awards were CNY144.8 million. The company’s net losses and net losses excluding equity awards were CNY78.9 million and CNY37.2 million, respectively, in the same period of last year.
During the second quarter of 2012, Tudou.com’s revenue costs reached CNY191 million, a year-on-year increase of 123.2%; and the costs growth was due to the increased costs of broadband, contents, and mobile video services. The company said its broadband costs reached CNY65.1 million, which was mainly attributed to website traffic growth and its improvement of user experience. Its contents costs reached CNY100.5 million, including payment for quality contents, employee salary and rewards, as well as self-made contents costs. Its mobile video services costs were CNY12.3 million.
In addition, the company reported CNY135.8 million operating costs during the reporting period. The costs included CNY23.7 million for its merge with Youku.com and that for sales team expansion and enhanced promotion and marketing activities.