Youku.com Inc (ADR) (NYSE:YOKU) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0%.
Youku.com Inc (ADR) Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.23 in the quarter versus EPS of $-1.39 in the year-earlier quarter.
Revenue: Rose 93.66% to $83.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Youku.com Inc (ADR) reported adjusted EPS loss of $0.23 per share. By that measure, the company beat the mean analyst estimate of $-1.39. It missed the average revenue estimate of $510.81 million.
Quoting Management: “I am pleased with our progress. We are in the final phase of the merger integration process with Tudou and have completed the restructuring of our sales team in the first quarter. Our combined sales team is positively impacting demand and our increased scale is helping us to optimize our cost structure,” said Victor Koo, Chairman and Chief Executive Officer of Youku Tudou. “The three key video mobile traffic metrics all recorded exciting growth in the first quarter and now we have over 100 million active monthly users, over 170 million daily video views and over 70 minutes average daily user time spent. We are emerging as the leading multi-screen online video platform in China as a result of this rapid rise in mobile traffic. Youku Tudou is developing product, content, marketing solutions and paid services across different screens to capitalize on the growing popularity of multi-screen video viewing behavior.”
Dele Liu, President of Youku Tudou, added, “We recently adjusted our organizational structure to encourage unity, flexibility, and innovation and to cement our leadership in the evolving Internet space. Under the new group structure, we can further differentiate the brands, content and products of our Youku and Tudou platforms to elevate the entire group’s media value. Our content strategy is to decrease our dependence on premium licensed content while strengthening in-house production and user-generated content. We will take a balanced approach and continue to deliver high-impact self-produced content that strengthens brand identity for Youku and Tudou, enhances social media value and supports our content marketing solutions.”
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