Beijing, 26th May: China Finance Online (CFO), a provider of online financial data in China, announced revenues of US$11.76 million in the quarter ended 31st March 2009. That is a 6.3% increase over the first quarter of 2008. Of that total, US$10.7 million, or 91% of the total revenues were generated by subscription fees paid by individuals.  GAAP net loss was US$128,000 in the quarter, compared with a GAPP net income of US$3.51 million in the first quarter 2008. Non-GAAP net income was US$1.62 million, compared with US$5.88 million recorded in the first quarter last year. 

CFO’s active paid individual subscriber base increased year-on-year by 42% rising from 75,300 to 107,300. Registered users rose from 9.8 million in the first quarter of 2008 to 11.73 million at the end of March, an increase of 20%.  CFO is forecasting revenues in the second quarter to be between US$10.8 million and US$11.8 million. The revenues in the second quarter 2009 were US$14.68 million.  Source: CFO press release

BIIA Newsletter June 2009 Issue