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 Search News  Or's losses expand to RMB 156.1 mln in Q1

May. 18, 2012 (China Knowledge) - Inc<YOKU>, a leading online video provider in China, has posted RMB 156.1 million or US$24.8 million-net loss for Q1 2012, whereas it suffered a net loss of RMB 46.9 million in the same period of 2011.

Non-GAAP net loss was RMB 115.4 million in the three months ended Mar. 31, 2012, compared with a non-GAAP net loss of RMB 41.5 million in the corresponding period of last year.

During the period from January to March 2012, the U.S.-listed firm's revenue reached RMB 270.2 million, reflecting a YoY jump of 111%, primarily due to the increased average spending per advertiser from RMB 700,000 to RMB 1.2 million.

Earnings before interests, taxes, depreciation and amortization or EBITDA were RMB 111.7 million on a non-GAAP basis in the first quarter of 2012, more than RMB 29.9 million in the same quarter of 2011.

For the second quarter of 2012, the company expects its revenue growth to reach between 90% and 100% from a year earlier.

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