Youku Loss Widens

(RTTNews) - Chinese online television company Youku Tudou Inc (YOKU) on Wednesday reported first-quarter net loss of 517.4 million renminbis, or $83.5 million; compared with a loss of 176 million renminbis, or $28.4 million last year.

On a per American depositary share basis, loss for the quarter was 2.67 renminbis, or $0.43; compared with a loss of 1.05 renminbis a year ago.

Excluding items, adjusted loss for the quarter was 2.49 renminbis, or $0.40.

The company's revenues for the quarter were 1.14 billion renminbis, or $183.8 million; up from 774.7 million renminbis last year.

Adjusted revenues for the quarter were 1.06 billion renminbis, or $170.4 million; compared with 700.4 million renminbis a year ago.

Analysts polled by Thomson Reuters estimated a loss of 2.25 renminbis per share on revenues of 1.03 billion renminbis for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company expects adjusted revenues of 1.47 billion renminbis to 1.52 billion renminbis, while analysts expect 1.59 billion renminbis.