Sep. 18, 2015, 9:20 AM
- Ku6 Media (NASDAQ:KUTV) posted Q2 results where revenue grew Y/Y and sequentially.
- Billing volume and rate were much higher with a different ad agent this year, Huzhong Advertising.
- Shanda Interactive (NASDAQ:SNDA) again became the major shareholder through a re-acquisition transaction. Cash and equivalents were $8.18M, mainly due to a $4.84M loan from Xudong Xu that was assumed by Shanda.
- Shares are flat premarket but have lost 49% since Q1 earnings on June 12, when the company expressed "substantial doubt" ability its ability to continue as a going concern. It gets substantially all its revenues from a single ad agency agreement with Huzhong.
Aug. 31, 2011, 11:02 AM
Shanda Interactive (SNDA) falls 5.8% after reporting Q2 revenue of $264.2M (+26% Y/Y) and EPS of $0.18, missing consensus by $0.6M and $0.08. Gross margin fell 3.2% Q/Q, driven by a collapse in gross profit for businesses labeled under "Other revenues." One of these businesses is Shanda's Ku6 video site, which Deutsche Bank warned would hurt results.| Aug. 31, 2011, 11:02 AM