Cloud Computing, Internet Datacenters and Big Data Business Intelligence from China


Losses Continue In China For Internet Video Website

Chinese online video portal Ku6 Media Company Ltd., which was formerly named Hurray Holding Company Ltd., said it widened its net losses as it announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2010.

In the fourth quarter of 2010, total revenues from continuing operations grew to USD6.8 million, up 58.4% from USD4.3 million in the third quarter of 2010. Total revenues from continuing operations for fiscal year 2010 were USD16.6 million. In each quarter of 2010, Ku6 said it achieved sequential revenue growth of more than 30%. However, net loss from continuing operations was USD15.5 million in the fourth quarter of 2010, an increase of 21.6% from a loss of USD12.7 million in the third quarter of 2010.

Total revenues from continuing operations for fiscal year 2010 were USD16.6 million, and net loss from continuing operations was USD53.5 million in the fiscal year 2010, compared to net loss of USD6.3 million in the fiscal year 2009.

As of December 31, 2010, Ku6 reported that it had USD27.3 million in cash and cash equivalents, compared to USD40.1 million as of September 30, 2010, and USD49.7 million as of December 31, 2009.

Share this news:

Be the first to comment on "Losses Continue In China For Internet Video Website"

Leave a comment

Your email address will not be published.


*




  Other China News

ChinaTechNews.com:

Nokia Phone Returns To China Via Exclusive JD.com Sales Channel

Artificial Intelligence Experts Join Sinovation Ventures

Apple's Struggles Drop Foxconn's Revenue 2.81% In 2016

Artificial Intelligence Guru Finds Search Engine Baidu


GreenChinaTech:

Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center


ChinaSourcingNews.com:

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco