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17-11-2013, 11:39
You On Demand reduces losses in Q3 Louise Duffy | 17-11-2013 Chinese VOD platform You On Demand has shaved considerably its losses as revealed by its quarterly results for the three-month period ended 30 September 2013.Revenue for the quarter was $0.1 million, while total operating expenses declined approximately 35% to $2 million. This lower cost base helped lead to a more than 30% reduction in the company's operating loss, to $2.6 million in Q3.A one-time $5.6 million gain on the sale of You On Demand's non-core Jinan Broadband assets resulted in net income of $3.0 million, or diluted EPS of $0.14 per share