China.com Corp., the Hong Kong firm that manages a
portal network for Greater China, reported a US$2.2 million net loss for the second
quarter.
China.com executives explain that loss comes from its expansionist moves leading up to
its initial public offering last month on the NASDAQ.
China.com reported US$ 2.4 million in total revenues for the second quarter, a 50
percent increase over total revenues of US$ 1.6 million for the first quarter and a 174
percent increase over total revenues of US$ 881,000 for same quarter last year.
“This is our first earnings announcement as a public company, and we are extremely
pleased with the company’s results,” said Peter Yip, China.com’s CEO. “We
experienced impressive growth in revenue and page views in our advertising and
e-business solutions.”
According to China.com, the average daily page views on its portal network for the
month of July, 1999 increased to 1.3 million, a 30 percent increase over average page
views of 1 million a day in June.
Page views from the 24/7 Asia network, for which China.com has a license, allegedly
grew to more than 30 million daily page views. Additionally, the company says that the
number of affiliates of 24/7 Asia increased to 175 at July 31, 1999.
