Mar. 2, 2012 (China Knowledge) - Tudou.com<TUDO>, one of the largest video sharing websites in China
, suffered a net loss of RMB 148.9 million or US$23.7 million in the fourth quarter of last year, compared with a net loss of RMB 263.7 million in the same period of 2010.
Operating revenue for the fourth quarter of 2011 surged by 69.7% year on year to RMB 166.5 million from RMB 98.1 million, principally boosted by the firm's online advertising services with revenue totaling RMB 144.6 million, up 60.1% year on year from RMB 90.3 million.
For the whole year of 2011, the U.S.-listed company's net loss stood at RMB 511.2 million, compared with a net loss of RMB 347.4 million in 2010.
Tudou.com saw its operating revenue for last year increased by 78.9% from RMB 286.3 million to RMB 512.2 million.
Gross profit for 2011 totaled RMB 84.4 million with a 16.5% gross margin, compared with RMB 59.9 million in gross profits with gross margin of 20.9% in 2010.
The leading Chinese video sharing website also expects its operating revenue growth for the first quarter of 2012 to be in the range of 70% to 75% year on year.