NASDAQ-listed, China Finance Online (CFO), a provider of online financial data in China, announced that its third quarter revenues were US$15 million. That was a decrease of 4.3% compared with the third quarter of 2008. Of that total, US$11 million, or 78% of revenues were generated by subscription service fees paid by individual customers. CFO’s GAAP net loss was US$1.03 million in the quarter compared with a net income of US$4.8 million in the same quarter last year. 

Registered users jumped from 10.9 million in the third quarter of 2008 to 13.1 million this quarter, an increase of 20%. Active paid individual subscribers were 112,000, a decrease 2.6% from 115,000 last year. As of September, the company’s Hong Kong brokerage operation, Daily Growth, had approximately 1,420 customer accounts. 

CFO’s management has forecast fourth quarter revenues to range from US$13 million to US$14 million. Revenues in the fourth quarter of 2008 were US$15 million.  Source: CFO news release

BIIA Newsletter January 2010 Issue