You will be redirected back to your article in seconds

China Video Leader Youku Edges To Profitability

HONG KONG – China’s top online video firm Youku Tudou edged into profit in the fourth quarter of last year.

The non-GAAP net profit of RMB 44.2 million ($7.3 million) was the first in the company’s history and results for the full 2013 showed losses of RMB342 million ($56.5 million).

The NYSE-listed company emerged in 2012 from the merger of online video leaders Youku and Tudou and the company said that some comparisons between the new enlarged group and the old companies were not possible.

For 2013 it enjoyed net revenues of RMB3 billion ($500.3 million) with ad revenue accounting for the significant majority of income.

Set against that bandwidth costs were RMB686 million ($113 million) or 23% of net revenues and content acquisition costs were RMB1.4 billion ($235 million) or 47% of net revenue.

“The strong operational and financial performance recorded in the fourth quarter enabled Youku Tudou to achieve profitability on a combined basis for the first time in the company’s history. This milestone was achieved on the back of scale economics, strong operating leverage and solid execution,” said Victor Koo, chairman and CEO.

“With a dynamic rise in mobile traffic throughout 2013, our existing comprehensive content library and the two most recognized online video brands set Youku Tudou apart as China’s no. 1 multi-screen video company.”  

For the first quarter of 2014, the company said it expects net revenues will be between RMB680 million and RMB720 million, with advertising net revenues contributing between RMB600 million and RMB640 million.

The company’s shares traded up by 7.6% on the news, at $33.19 apiece, giving a market capitalization of $6.22 billion.

More Biz

  • ynon-kreiz

    Media Exec Ynon Kreiz Named CEO of Mattel

    HONG KONG – China’s top online video firm Youku Tudou edged into profit in the fourth quarter of last year. The non-GAAP net profit of RMB 44.2 million ($7.3 million) was the first in the company’s history and results for the full 2013 showed losses of RMB342 million ($56.5 million). The NYSE-listed company emerged in […]

  • courtney braun

    Courtney Braun Named Head of Legal Affairs for Endeavor

    HONG KONG – China’s top online video firm Youku Tudou edged into profit in the fourth quarter of last year. The non-GAAP net profit of RMB 44.2 million ($7.3 million) was the first in the company’s history and results for the full 2013 showed losses of RMB342 million ($56.5 million). The NYSE-listed company emerged in […]

  • Randall Stephenson

    AT&T-Time Warner Trial: Randall Stephenson Takes Stand and Defends Merger

    HONG KONG – China’s top online video firm Youku Tudou edged into profit in the fourth quarter of last year. The non-GAAP net profit of RMB 44.2 million ($7.3 million) was the first in the company’s history and results for the full 2013 showed losses of RMB342 million ($56.5 million). The NYSE-listed company emerged in […]

  • Lucian Grainge

    Vivendi Prepping 'Potential' Stock Listing of Universal Music Group

    HONG KONG – China’s top online video firm Youku Tudou edged into profit in the fourth quarter of last year. The non-GAAP net profit of RMB 44.2 million ($7.3 million) was the first in the company’s history and results for the full 2013 showed losses of RMB342 million ($56.5 million). The NYSE-listed company emerged in […]

  • Fauda Israeli TV Show

    Israel at 70: A Piece of Hollywood in the Middle East

    HONG KONG – China’s top online video firm Youku Tudou edged into profit in the fourth quarter of last year. The non-GAAP net profit of RMB 44.2 million ($7.3 million) was the first in the company’s history and results for the full 2013 showed losses of RMB342 million ($56.5 million). The NYSE-listed company emerged in […]

  • Bob Iger Rupert Murdoch

    SEC Filing Reveals New Details on Disney-Fox Deal, and How Comcast Got Rejected

    HONG KONG – China’s top online video firm Youku Tudou edged into profit in the fourth quarter of last year. The non-GAAP net profit of RMB 44.2 million ($7.3 million) was the first in the company’s history and results for the full 2013 showed losses of RMB342 million ($56.5 million). The NYSE-listed company emerged in […]

  • Beth MatthewsASCAP Pop Awards, Show, Los

    ASCAP Distributes $1 Billion to Members for the First Time

    HONG KONG – China’s top online video firm Youku Tudou edged into profit in the fourth quarter of last year. The non-GAAP net profit of RMB 44.2 million ($7.3 million) was the first in the company’s history and results for the full 2013 showed losses of RMB342 million ($56.5 million). The NYSE-listed company emerged in […]

More From Our Brands

Access exclusive content