Youku Loss Narrower Than Estimates; Stock Up 4%

(RTTNews) - Chinese online television company Youku Tudou Inc (YOKU) on Wednesday reported second-quarter net loss of 342 million renminbis, or $55.2 million; compared with a loss of 142.3 million renminbis, or $23 million last year.

On a per American depositary share basis, loss for the quarter was 1.76 renminbis, or $0.28; compared with a loss of 0.76 renminbis a year ago.

Excluding items, adjusted loss for the quarter was 1.13 renminbis, or $0.18.

Analysts polled by Thomson Reuters estimated a loss of 1.53 renminbis per share for the quarter. Analysts' estimates typically exclude special items.

The company's revenues for the quarter were 1.61 billion renminbis, or $259.6 million; up from 1.02 billion renminbis last year.

Adjusted revenues for the quarter were 1.51 billion renminbis, or $244.3 million; compared with 958.7 million renminbis a year ago. Analysts estimated revenues of 1.51 billion renminbis for the quarter.

For the third quarter, the company expects adjusted revenues of 1.69 billion renminbis to 1.78 billion renminbis, while analysts expect 1.73 billion renminbis.