Net revenues were $5.5 million compared with $9.1 million for the first quarter of 2012 and $5.2 million for the fourth quarter of 2012. The company stated that the decline is due to the company’s strategic transition amid a challenging business environment; -Gross profit was $3.6 million compared with $7.1 million for the first quarter of 2012; Net loss attributable to China Finance Online was $4.3 million.
The main sources of the Company’s net revenues were subscription fees from individual customers, subscription fees from institutional customers, advertising revenues and brokerage-related revenues, which contributed 41 percent, 12 percent, 26 percent and 17 percent to total revenues respectively, compared with 69 percent, 8 percent, 9 percent, and 14 percent, respectively, for the comparable period in 2012. Revenues from subscription fees paid by individual customers decreased 64.0 percent year-over-year to $2.3 million. The decrease is largely due to the Company’s previously disclosed strategic business transition and the weak Chinese stock market. Institutional subscription revenues decreased 15.0 percent year-over-year to $0.7 million. Revenues from advertising increased 85.0 percent year-over-year to $1.5 million from $0.8 million in the first quarter of 2012. Brokerage-related revenues were $0.9 million compared with $1.3 million one year ago.
About: China Finance Online Co. is a technology-driven company providing vertically integrated financial information and services including news, data, analytics, securities investment advisory and brokerage-related services.
Source: China Finance Online Co.