Youku Loss Wider Than Estimates, Revenue Beats; Q1 Guidance Strong

(RTTNews) - Chinese online television company Youku Tudou Inc (YOKU) on Thursday reported fourth-quarter net loss of 318.1 million remnibis, or $51.3 million. This compares with a loss of 24.6 million, or $4.0 million last year.

On a per American depositary share basis, loss for the quarter was 1.64 remnibis, or $0.26; compared with a loss of 0.15 remnibis a year ago.

Excluding stock-based compensation expense and amortization charges, adjusted loss for the quarter was 1.18 remnibis, or $0.19.

The company's revenues for the quarter were 1.26 billion remnibis, or $203.8 million; an increase of 40% from 901.3 million remnibis last year.

Analysts polled by Thomson Reuters estimated a loss of 1.00 remnibis per share on revenues of 1.20 billion remnibis for the quarter. Analysts' estimates typically exclude special items.

The company said its quarterly results were hurt by lower gross margin, and operating expenses climbed to 547.9 million remnibis from 333.4 million remnibis a year ago.

Further, income tax expense for the quarter was higher at 51.5 millino remnibis, compared with 876 thousand remnibisa last year.

For the first quarter, the company expects revenues of 1.01 billion remnibis to 1.03 billion remnibis, while analysts expect 996.5 million remnibis.