The Digital Source For China's Tech Innovation Since 2000

Search
Close

Tom Online Posts Good Q2 Results

August 10, 2006
Internet

Tom Online's (TOMO) total revenues for the second quarter of 2006 were US$50.10 million, an increase of 17.1% from the same period last year and up 3.1% from last quarter.

Wireless Internet revenues were US$45.71 million, representing a 12.4% increase over the same period last year and a 0.5% increase over the previous quarter. Wireless Internet revenues made up 91.2% of the company's total quarterly revenues.

Wang Lei Lei, Chief Executive Officer and an Executive Director of Tom Online, said: "Tom Online's Internet and WVAS businesses maintained their healthy growth in the reporting period. The performance of our portal and online advertising businesses in particular had improved markedly. Although industry policy changes and the government's efforts to better regulate the WVAS market had affected our business at the end of the second quarter and the measures are expected to continue to affect our business in the coming quarters, we believe China's Internet and WVAS markets are still full of business potentials. Tom Online will be able to seize those opportunities as it continues to work closely with partners."

Online advertising revenues were US$3.89 million, representing a 43.9% increase QoQ and an increase of 111.7% YoY, as the company's online advertising sales activities continued to show positive results and benefited from incremental advertiser interest in its World Cup and Wanleba Internet offerings.

Gross profit was US$19.05 million representing an increase of 7.1% over the same period last year but a 4.6% decline QoQ as gross margins declined in the second quarter to 38.0% from 41.1% in the first quarter of 2006 and 41.6% in the second quarter of 2005.

Total operating expenses were US$8.00 million in 2Q06, down 5.3% from the same period last year and down 14.1% from the previous quarter. Due to the expected slowdown in business over the remainder of the year from new mobile data service policies, the company has decided to suspend senior management bonuses which had been previously accrued in the first quarter of 2006 and hence were reversed in 2Q06.

Net Income was US$11.75mn, an increase of 14.7% YoY and down 3.2% from 1Q06. Excluding SBC expenses, Non-GAAP net income would have been US$12.52 million, or an increase of 22.2% YoY.

Tags: advertising | Business | China | CUP | data | executive | GAAP | government | Internet | IT | management | mobile | online | online advertising | performance | portal | profit | sales | service | technology | Tom Online | Total | Wireless | WVAS

Other Related News:

Wireless Campus Net Plan Initiated

October 12, 2004

Guangdong 3G Industry Alliance Licensed

July 6, 2007

Dalai Lama’s Message To China Ahead Of Month-Long Ladakh Stay

July 15, 2022

Co-Create Linux Signs With Digital China

January 4, 2007

China detains man named Ma, causing jitters that wiped $ 26B off Alibaba stock

May 5, 2022

Microsoft Whac-A-Moles Websites of Chinese Hackers APT15 (‘NICKEL’)

December 8, 2021

Facebook, now Meta, says China created a fake Swiss scientist to spread conspiracies that the US was falsely blaming it for COVID-19

December 2, 2021

Sensor Tower: Tencent's Honor of Kings and PUBG Mobile are the world's most lucrative mobile games, respectively earning $735.4M and $643M in revenue in Q1 2022 (Xinmei Shen/South China Morning Post) News AKMI

April 8, 2022

EU Files WTO Complaint Against China Over Telecom Patents

February 20, 2022
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
Menu
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2022 ChinaTechNews.com. A Service of Asia Media Network.
Twitter
Posting....