China Finance Online Beats the Street Consensus (JRJC)

China Finance Online Co. Ltd. (JRJC) reports Q2 EPS of $0.02 versus estimates of $0.01. China Finance Online Co. Ltd. reports revenues of $15.3 million versus estimates of $14.54 million.

Registered user accounts increased to 16.83 million, an increase of 35.7% year over year; active paid subscribers were approximately 139,800 as of June 30, 2010, which increased by 27.2% from the prior year period; net revenues increased 24.4% year over year.

The company expects to increase the registered user accounts to 20 million by year-end 2010, up 43% from 14 million at the year end of 2009, and up 82% from 11 million at the year end of 2008, respectively.

"We remain cautiously optimistic as the Chinese stock market continues to show volatility in recovery, which can affect investors' confidence and, subsequently, our subscription business. Internally, we continue to focus on data improvement and product upgrades, and strive to provide our customers with on-going improvements in information quality and in a timely manner. We believe that we are able to leverage our strong cash position to increase working capital in Hong Kong to grow our Hong Kong brokerage business."

He added, "On the partnership front, we will continue to form strategic alliances to broaden our audience base and further enrich our data and information content. Our goal of becoming the most reliable 'one-stop' source for all financial information on companies and markets remain unchanged," Mr. Zhao concluded.

Shares of JRJC are higher in the after-hours by 3.60%.