YOKU released 4Q numbers that showed profitability for the first time in the companies history according to non US GAAP (+0.04c) and were almost breakeven (-0.02c) according to US GAAP.
We discussed YOKU after the bell and on these numbers on Fast Money. Here's the clip.
This morning the Emerging Money Chinese Internet Index continued to all time highs as not only YOKU (quote), but DANG (quote), VIP (quote) and other ecommerce plays are showing real growth coming out of a successful earnings season.
Qunar (QUNR, quote, -1.8% today) the internet travel site controlled by Bidu announced during their earnings call last night that they received a $300m credit line from BIDU.
Investors remain concerned about insider transactions in the Chinese internet space and BIDU has also said they expect to make more acquisitions in 2014.
We are completing our monthly rebalance of the EMCHI index and will have new weightings tomorrow.
Stay tuned for an update on changes to the index that will include new weightings and new components.