Shares of Youku fell after China’s largest online video company’s first earnings report following its initial public offering last December failed to meet investors’ expectations.
The company’s American Depositary Shares were down 3.2 per cent to $40.25 by midday on Nasdaq in New York. They had plunged more than 10 per cent in after-market trading on Monday after Youku announced a net loss of Rmb37.7m ($5.7m) for the fourth quarter of 2010.
The net loss narrowed by 18 per cent from the same period last year but was still worse than expected by most analysts.
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