Business

China Finance Online Reports Q2 Results

China Finance Online (JRJC) showed increased quarterly revenue growth as it announced its unaudited financial results for the second quarter ended June 30, 2007.

The company recorded net revenues of US$5.72 million for Q2 2007, exceeding the high end of its guidance, increased 43% as compared to Q1 2007 and 290% as compared to the same quarter last year. Net income was US$1.56 million for Q2 2007, compared to net income of US$775,000 for Q1 2007, a 102% increase, and net income of US$442,000 for Q2 2006, a 253% increase.

As of June 30, 2007, the company says it has 7.3 million registered user accounts of jrj.com and stockstar.com, compared to 6.57 million in the previous quarter, an increase of 11% quarter-on-quarter. Fee-based active individual subscribers as of June 30, 2007 grew to 37,400, compared to 31,700 in the previous quarter, an increase of 18% from the previous quarter.

Balance of cash and cash equivalents was approximately US$56.15 million at the end of the second quarter of 2007.

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