After barely moving yesterday in response to nearly in-line Q1 results and strong Q2 revenue...
After barely moving yesterday in response to nearly in-line Q1 results and strong Q2 revenue guidance, Youku (YOKU -9.6%) is falling hard today. The decline comes even though Youku has received two upgrades since the report (from HSBC and Maxim), as well as a bullish coverage launch from BofA. Concerns about mobile monetization could be a factor. On its earnings call, Youku stated mobile daily video views rose 50%+ Q/Q and are now above 170M, that mobile monthly users have topped 100M (PC users are around 400M), and that mobile now makes up ~30% of traffic. However, the company added "mobile monetization this year is relatively modest."
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