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Youku.com Shrinks Net Loss For Internet Video Business In China

Chinese online video website Youku.com Inc. announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2010.

For the fourth quarter, net revenues were CNY152.5 million, a 183% increase from the corresponding period in 2009. For the full year of 2010, net revenues were CNY387.1 million, a 152% increase from 2009.

Bandwidth costs as a component of cost of revenues were CNY51.7 million in the fourth quarter of 2010, representing 34% of net revenues, compared to 71% in the corresponding period in 2009. Content costs as a component of cost of revenues were CNY26.2 million, representing 17% of net revenues, compared to 10% in the corresponding period in 2009.

Operating loss was CNY8.6 million in the fourth quarter of 2010, representing an 80% decrease from the corresponding period in 2009. Net loss was CNY37.7 million in the fourth quarter of 2010, representing an 18% decrease from the corresponding period in 2009.

Operating loss was CNY154.3 million in 2010, representing a decrease of 12% from 2009. Net loss was CNY204.7 million in 2010, representing a 12% increase from 2009.

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