reports US$65.9 million in quarterly losses

Chinese web portal says revenue amounts to US$411.8 million for the period

PUBLISHED : Tuesday, 21 February, 2017, 10:54pm
UPDATED : Tuesday, 21 February, 2017, 10:54pm on Tuesday reported a loss of US$65.9 million in its fourth quarter.

On a per-share basis, the Beijing-based company said it had a loss of US$1.71. Losses adjusted for stock option gains came to US$1.79 per share.

The operator of the popular Chinese web portal posted revenue of US$411.8 million in the period.

For the year, the company reported that its loss widened to US$224 million, or US$5.83 per share. Revenue was reported as US$1.6 billion.

For the quarter to April, expects its results to range from a loss of US$1.55 to US$1.80 per share.

The company said it expected revenue in the range of US$345 million to US$375 million for the financial first quarter. shares have risen 16 per cent since the beginning of the year. The stock has fallen 12 per cent in the past 12 months.