Missed Q1 Estimates Has Youku Tudou Shares Falling
Youku Tudou (NYSE: YOKU) announced its first quarter earnings on Friday.
The company reported a net revenue of $112.7 million, which hit company guidance estimates, but missed the analyst consensus of $115 million. The $112.7 million figure is a 36 percent year-over-year increase from the same period last quarter.
The company reported an EPS of $0.14, which missed analyst estimates of $0.18.
The company estimates that net revenues for the second quarter will be between 940 million and 1 billion Yuan.
Shares of Youku Tudou have been responding poorly to this news with the price being down 6.96 percent to $18.98.
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