Youku Tudou Posts Narrower-Than-Expected Q1 Loss, Sales Miss; Shares Slip 3% Pre-BellCraig Dalton (Author) Published Date : Jun 11, 2014 23:25 ET
Youku Tudou (YOKU) shares were lower by nearly 3% in recent pre-market trade after reporting a Q1 loss that was slightly smaller than had been expected while sales were shy of views. YOKU is trading near the lower end of the 52-week range between $17.69 and $37.74. The internet television company based in China said its non-GAAP Q1 loss was $0.14 per diluted American Depository Share compared to the $0.20 loss expected by analysts polled by Capital IQ. Sales rose 36% to $112.7 million, shy of the $114 million consensus estimate. On a reported basis, the group's net loss was 224.7 million renminbi ($36.1 million) or 0.07 renminbi ($0.01 per basic share) compared to a loss of 232.5 million renminbi or 0.08 the year earlier. Per ADS, the loss in Q1 was $0.22. For Q2, Youku Tudou said it expects net revenues of 940 million renminbi to 1 billion renminbi.
Youku Tudou Posts Narrower-Than-Expected Q1 Loss, Sales Miss; Shares Slip 3% Pre-Bell