Uncertainty Surrounds Youku (YOKU) Moving Forward
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Chinese Internet video company Youku.com Inc. (NYSE: YOKU) reported a narrowed loss on Tuesday for its first quarter on the New York Stock Exchange, but concerns over regulations and when the company can turn a profit surround the YouTube of China.
Youku's IPO was a defining success story late last year, with shares more than tripling in the first two days of trading, but investors are concerned over the presence of the Chinese government holding back growth.
Executives at the company have not suggested when Youku plans to turn a profit, as the Chinese government has recently called for tighter controls over the Internet.
Th company is simply saying that it expects to see financial results improving in the mid- to long-term.
Shares of Youku are down 11 cents to $39.85 in premarket trade on Wednesday, after falling nearly 4 percent on Tuesday.
Youku's IPO was a defining success story late last year, with shares more than tripling in the first two days of trading, but investors are concerned over the presence of the Chinese government holding back growth.
Executives at the company have not suggested when Youku plans to turn a profit, as the Chinese government has recently called for tighter controls over the Internet.
Th company is simply saying that it expects to see financial results improving in the mid- to long-term.
Shares of Youku are down 11 cents to $39.85 in premarket trade on Wednesday, after falling nearly 4 percent on Tuesday.
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