Youku Tudou (NYSE ticker: YOKU) on Wednesday announced the company’s unaudited financial results for the first quarter ended March 31, 2013. Results showed that Youku Tudou net revenues reached 516 million yuan (about 83.1 million U.S. dollars) in first quarter, representing an increase of 21% over the same period last year; net loss amounted 232.5 million yuan (about 37.4 million U.S. dollars) a decrease of 12% compared with the same period last year.
August 23, 2012, Youku and Tudou announced the merger of the two companies. After completion of the transaction, the the Tudou financial data will be integrated into the Youku Tudou account.
Youku Tudou Chairman and CEO, Victor Koo said: “I am pleased to see that the merger has successfully entered the closing stages, especially the sales team reorganization was completed in the first quarter. With a strong team, the growth in market demand, economies of scale generated by the merger, the rapid growth of the business supported, we believe that will continue to optimize cost structure. In first quarter, the Group has exciting growth in the three indicators of mobile video traffic data: more than 100 million active users monthly, the date video playback volume was over 170 million, per capita video browsing time was up to 70 minutes . With the rapid growth of mobile traffic, we have become one of China’s leading multi-screen video platforms. Multi-screen video viewing is becoming the mainstream. Youku Tudou Group’s recent strategic core point is integrating the products, content, marketing, paid services and other aspects into the multi-screen. ”