Youku Tudou Q3 Loss Narrows

(RTTNews) - Youku Tudou Inc. (YOKU) Thursday said third-quarter loss narrowed to RMB 218.6 million, or $35.7 million, from RMB 310.4 million in the same period last year.

On a per-share basis, loss narrowed to RMB 0.07, or $0.01 per share from RMB 0.14 last year. Net loss per ADS for the quarter was RMB 1.31, compared to RMB 2.54 last year.

Adjusted loss for the quarter was RMB 159.6 million, or $26.1 million. On average, eight analysts polled by Thomson Reuters expected the company to report a loss of $0.38 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues totaled RMB 857.7 million, or $140.15 million, down from RMB 1.2 billion last year. Analysts expected revenues of RMB 850.75 million.

Looking ahead to the fourth quarter, the company has forecast revenues in the range of RMB 860 million to RMB 900 million. Analysts currently expect fourth-quarter revenues of RMB 921.52 million.