Beijing, 9th March: NASDAQ-listed China Finance Online (CFO), a Chinese online financial information provider, released both its fourth quarter and full year results this week. CFO recorded revenues of US$56 million, an increase of 117% over last year. Net income in 2008 was US$19 million, compared to a loss of US$4.1 in 2007. For the quarter ended 31st December 2008, revenues were US$15 million. That is a 72% year-on-year increase. Net income in the fourth quarter was US$6.2 million, compared to a loss of US$8.4 million in the same quarter last year.
Most of the revenues were generated from subscription services fees, which accounted for US$12 million or 80% of the total revenues. CFO’s active paid individual subscriber base increased year-on-year by 107% rising from 56,000 to 116,200. Registered users rose from 9 million in the fourth quarter of 2007 to 11.3 million at the end of 2008, an increase of 26%. CFO forecasts first quarter 2009 revenues to be between US$10.5 million and US$11.5 million. The revenues in the first quarter 2008 were US$11 million. Source: CFO press release
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