Youku-Tudou Made Net Losses Of USD18.2 Million In Q4 2012
Chinese Internet video provider Youku-Tudou Group announced its unaudited financial report for the fourth quarter and the entire year of 2012.
According to the report, the company’s net income during the fourth quarter was CNY635.8 million, which was about USD102.1 million, and it was a year-on-year increase of 30%. At the same time, the company reported net losses of CNY113.6 million, which was about USD18.2 million; while the net losses decreased by 43% compared with 2011.
The report also showed that Youku-Tudou’s comprehensive gross profit in the fourth quarter of 2012 was CNY116.3 million, a year-on-year increase of 60%. Its purchase of tangible assets like fixed asset equipment reached CNY24.4 million. Its purchase of intangible assets reached CNY111.1 million.
For the entire year of 2012, Youku-Tudou’s comprehensive net income was CNY1.8 billion and its net losses were CNY424 million.
By December 31, 2012, the company’s cash, cash equivalents and short-term investments reached a total of CNY3.8 billion.