Boston, MA 05/29/2013 (wallstreetpr) – In Tuesday’s trading session, shares of Ku6 Media Co Ltd (NASDAQ:KUTV) rose by 9.08%. The opening price $1.21 touched an intraday high of $1.35 before dipping to $1.21 per share. More than 0.286 shares were traded in Tuesday’s trading session which was lower than the average volume of 0.424M that was measured over a period of 30 days.
Ku6 Media Co Ltd (NASDAQ:KUTV) is a prominent internet video company. It focuses on User Generated Content in China. The company announced its un-audited financial results for the 2013 Q1 that ended 31 March 31, 2013. In the first-quarter of 2013 the total revenues were US$3.07 million. This represented an 8.4% drop from US$3.35 million that it stood at, in the fourth-quarter of 2012. This was also a drop of 34.4% from US$4.68 million that it stood at, in the first-quarter of 2012. In the 2011 Q2, the Ku6 Media Co Ltd (NASDAQ:KUTV) started generating advertising revenues largely from various performance advertising services. It used a system called Application Advertisement. This performance-advertising revenue was realized via an affiliated, advertising agent.
This agent is under the common control of the Company’s majority shareholder, Shanda Interactive Entertainment Limited. KUTV generated revenues totaling 95.8% in the first-quarter of 2013 via the affiliated advertising agent, in comparison to 87.5% of total revenues in the 2012 Q4. In the first-quarter of 2013, the cost of revenue was US$3.13 million. This represented a drop of 16.5% from US$3.75 million that it stood at, in the 2012 Q4 and a drop of 11.3% from US$3.53 million in the 2012 Q1.
