NASDAQ-listed China Finance Online (CFO), has released its full year results. For the year ended 31st December 2010, CFO recorded revenues of US$60 million, an increase of 11% over revenues of US$54 million recorded in 2009. Net income attributable to shareholders in 2010 was US$2.0 million, compared to a loss of US$6.2 million in 2009. CFO’s registered users rose from 14 million at the end of 2009 to 20.2 million at the end of 2010 – an increase of 44%. The active paid subscriber base also increased year-on-year by 32% rising from 117,900 to 156,000.
Continued subscriber growth will be crucial in view of the fact that Asian investors in general do not want to pay for information. Large competitors such Xinhua Finance and Bloomberg may impact current pace in subscriber growth negatively. Source: Business Strategies Group www.bsgasia.com and BIIA