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China.com Announces Over US$30 Million Revenue for Q2 2000
Chinadotcom corporation (Nasdaq: CHINA) reported total revenue for the quarter ended June 30th, 2000 of US$30.3 million, a 52 percent increase from total revenue of US$20 million for the first quarter ended March 31st, 2000. The gross profit was US$11.3 million, cash operating loss was US$10.6 million, per share loss of US$0.149. The company's cash on hand and other cash equivalents at the end of second quarter totaled US$516 million.
Peter Yip, CEO of chinadotcom corporation, said that "We continue to stride towards profitability. Our three-dimensional business model---combining e-business solutions, interactive advertising and our Greater China portal network---has delivered revenues that now provide us with a scale to accelerate out operating leverage."
"While China remains very much in our focus, as it is predicted to be the world's largest internet market by the end of the decade, we have become the region's leading internet company by successfully creating a business that taps into the increased spending in the regions more mature internet markets, such as Japan, Korea, Australia, Singapore and Hong Kong. This in turn has helped to strengthen our position in China, where we continue to invest in content production, technology development and creative services to build platform that will drive sustainable growth as the Chinese market really begins to flourish," added Mr. Yip.
Out of the total second quarter revenue of US$30.3 million, revenue from e-business solutions was US$15.7 million, an increase of 53 percent over the previous quarter. Interactive advertising revenue for the quarter was US$13.4 million. As to the company's portal network, it is said that its daily page-views reached 21 million in July 2000, numbers of registered users were 6.3 million.
"leveraging the value of integrated services-be they human, technology, investment, creative, strategy or marketing-based-for the benefit of the whole organization has increasingly characterized our business development over the last quarter and we will continue to see more synergies derived from our region-wide operations going forward, commented Mr. Peter Hamilton, Chief Operating Office and Chief Financial Office of the chinadotcom.
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