China Finance Online Posts Q3 2012 Net Loss of USD 3 Mln
China Finance Online, 12/13/12
Chinese online financial information provider China Finance Online (Nasdaq: JRJC) has announced its financial results for the three months ended September 30, 2012. Q3 2012 net revenues were USD 7.2 mln, down 46.7% YoY from USD 13.5 mln for the third quarter of 2011.
Net loss for the period was USD 3.22 mln, as compared to a net loss of USD 3.75 mln in Q3 2011.
Revenues from subscription fees paid by individual customers decreased 61.0% YoY to USD 4.0 mln. The decrease is largely the result of the Company's previously disclosed strategic transition and the continued weakening of China's stock market. Institutional subscription revenues decreased 4.1% YoY to USD 0.8 mln. Revenues from advertising were USD 1.7 mln, in line with the third quarter of 2011. Revenues from brokerage-related services decreased slightly YoY to USD 0.7 mln.
In November, the company entered into an agreement with Tsinghua University's PBC School of Finance E-finance Lab for a long-term strategic cooperation mainly on financial research and project incubation. The collaboration aims to explore new opportunities in the field of internet-based financial services.
To view the complete report please see here.
Keywords: Internet loss China Finance Online online financial information JRJC Q3 2012 revenue fiscal report
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