real-time news and commentary for investors
Thursday, Aug 8
Youku slides following nearly in-line revenue, ho-hum guidance
- Youku (YOKU) posted Q2 revenue of $122.8M (+30% Y/Y), almost in-line with a $122.7M consensus.
- The Chinese online video leader expects Q3 revenue of $135.6M-$142.2M vs. a $139.5M consensus.
- Q2 ad sales amounted to $118.4M, or 96% of revenue.
- Content costs surged 46% Y/Y to $49.4M (outpacing rev. growth) and made up 40% of revenue. Opex only rose 2% Y/Y to $42.5M (a major reason for the EPS beat), as Youku reaps synergies from the Tudou merger. R&D spend +14% Y/Y and sales/marketing +12%, but G&A -22%.
- Youku once more trumpets its strong mobile growth (previous): daily mobile video views have more than doubled in the last 6 months.
- YOKU -5.5% AH. CC at 8PM ET. Q2 results, PR