Letv.com Net Profit Up 56% In Q3 2013

Chinese Internet video website Letv.com published its financial report for the third quarter ended September 30, 2013, stating that the company's total operating revenue increased by 122.42% year-on-year to CNY613 million.

The company's net profit increased by 55.72% year-on-year to CNY67.61 million.

The company also revealed that during the first three quarters of 2013, Letv.com's total operating revenue reached CNY1.365 billion, a year-on-year increase of 65%; its operating profit reached CNY182 million, a year-on-year increase of 36%; its total profit reached CNY190 million, a year-on-year increase of 21%; and its net profit reached CNY184 million, a year-on-year increase of 37%.

According to the financial report, the large increase of total operating revenue was due to the fast growth in the company's advertising business. From January to September 2013, Letv.com realized revenue of CNY540 million via advertising, representing an increase of over 106% compared with the same period of last year.

Statistics show that by the end of the third quarter of 2013, Letv.com boasted daily average unique visitors of 23 million and the number was 32 million in peak time. Meanwhile, its daily average page views were between 110 million and 130 million in peak times, and its daily average video views were between 120 million and 160 million at peak times.