Youku Tudou Inc. (NASDAQ: YOKU)
China’s prime internet television provider, Youku Tudou Inc., announced yesterday that the Korean series, “Hyde, Jeckyll and Me” was approved by State Administration of Press, Publication, Radio, Film and Television (SAPPRFT), making it the first foreign television series to receive censorship approval. The first episode will debut on July 13th, with a new episode to air each day after. Currently, YOKU is China’s #1 monthly mobile app. The Street Insider
Earnings & Outlook
YOKU shares opened yesterday at $21 and were trading at $21.12 as of 10 A.M. this morning. The 50 day moving average of YOKU is $27.17 and its 200 day moving average is $19.47. YOKU had reached a one year high of $31.50 and a one year low of $11.85. Smarter Analyst
According to The Street, Youku Tudou’s revenue is on the upswing. Revenues have risen 47.5% since the same quarter one year ago.
Given the recent approval of “Hyde, Jeckyll & Me” by SAPPRFT, and it’s partnership with Disney, it is likely that the future of Youku Tudou is bright.
YOKU CEO’s Comments
Youku Tudou’s CEO & Chairman, Victor Koo has said:
“Subscription services are the next growth pillars for online video monetization. China is shifting towards a consumer-driven economy and online consumption is becoming mainstream. Leveraging our user base of over 500 million monthly unique visitors, we have seen big growth in the number of our paid subscribers. By partnering with top players and continually enhancing our services, we are able to create a premium experience for our paid subscribers and further drive subscription based revenue.” Smarter Analyst
YOKU Technical Analysis
YOKU’s had a wide yearly range, ranging from $11.85 to $31.50. It came off its lows in March to skyrocket in late May and it has faded since then to $17.74 on July 8th. YOKU stock soared in late May due to highly successful second quarter results and retested its highs once again when news came of Youku’s partnership with Walt Disney on June 2. After the stock spiked due to the news, the stock has been on a decline for the past month to yesterday’s low of $17.74. Yesterday, the price gapped up $3.26 to $21. We’ll see if YOKU can hold the gap price of $21 and use the gap up as a support level or will it fill in the gap and continue its fall.
Youku Tudou Inc. operates as an Internet television company in the Peoples Republic of China. Its Internet television platform enables users to search, view, and share video content across multiple devices. The company’s services for users comprise online video content library consisting primarily of professionally produced content, including television serial dramas, movies, current event reports, variety shows, and music videos. It also provides guided user-generated content through Youku Paike and Youku Niuren programs; and produces a range of content, such as sponsored Web serial dramas, reality shows, interviews, and variety shows under the Youku Originals brand, as well as on Tudou platform. Yahoo Finance