RealTime IT News

China.com Reports 117 Percent Revenue Increase In Q3

China.com Corp. today reported $5.2 million in revenues for the third quarter ending Sept. 30, a 455 percent increase over total revenues of $945,000 in the same quarter last year.

The earnings report indicated third quarter revenues rose 117 percent over total revenues of $2.4 million for the second quarter of this year, the quarter ending June 30.

The company also reported that e-business revenue for the quarter ending September 30, 1999 was $2.9 million, representing a 111 percent growth over last quarter's revenue.

Advertising revenue for the quarter was $2.1 million, representing a 137 percent growth over the previous quarter's revenue.

China.com also declared growth in deferred revenue of 354 percent over last quarter ended June 30, 1999.

"All of our numbers exceed internal and external projections; we are extremely pleased with our third quarter earnings announcement," said Peter Yip, chief executive officer, China.com. "We have seen tremendous growth in all parts of our business, building on the momentum that was established in the second quarter."

According to the Hong Kong-based company, network of portals, China.com, Hongkong.com, and Taiwan.com, recorderd an average of 2.5 million daily page views in Q3, representing a 150 percent growth over the previous quarter and registered members grew from 400,000 users to over 750,000 users.

China.com also indicated that it acquired a number of companies for both the Internet advertising business of 24/7 Media Asia and the Web solutions business of the Web Connection.