ChinaNet Online Holdings Q2 2012 Profit Down 68% YoY
ChinaNet IR, 8/21/12
Chinese online and TV advertising firm ChinaNet Online Holdings (Nasdaq: CNET) has announced its financial results for the second quarter of 2012. Q2 2012 revenues increased 45% YoY to USD 13.1 mln.
Net income attributable to common stockholders was USD 0.9 mln, down 67.9% YoY from USD 2.8 mln a year before.
Revenue from Internet advertisement declined by 17% YoY to USD 5.4 mln, primarily due to a significant reduction in value-added services revenues, as branded clients reduced their advertising spending. Sales of brand management and sales channel expansion increased 264% YoY to USD 1.6 mln, due to an increase in the average advertising spending per customer from larger-sized clients. TV advertising revenues increased 190.5% YoY to USD 6.1 mln in the second quarter of 2012.
The company forecasts full-year 2012 revenues to be at least USD 42 mln and net income of at least USD 2.8 mln.
To view the complete report please see here.
Keywords: online advertising TV advertising Internet profit revenue CNET ChinaNet Q2 2012 television fiscal report
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