Hurray Press Release, 8/21/08
Chinese wireless value-added service (WVAS) provider Hurray (Nasdaq: HRAY) has announced its unaudited financial results for Q2 2008, with net revenues reaching USD 12.8 mln, down 12.4% year-on-year and 3.7% quarter-on-quarter.
Net income for the quarter came to USD 1.6 mln, down 67% QoQ.
Wireless value-added services (WVAS) revenues were USD 9.2 mln, down 16.5% quarter-on-quarter and 27.9% year-on-year.
Recorded music revenues from its record label businesses were USD 3.6 mln, up 59.3% quarter-over-quarter and 95.4% year-over-year.
For the third quarter of 2008, Hurray expects its total consolidated revenues to be between USD 12 and USD 13 mln.
To see Hurray's full report, please click here.