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ChinaNet Online Q1 Loss Widens - Quick Facts

ChinaNet Online Holdings Inc. (CNET) reported that its first-quarter net loss attributable to the company widened to $2.31 million or $0.11 per share from $1.14 million or $0.07 per share in the first fiscal quarter of 2019.

Operating loss was $2.3 million compared to operating loss of $0.7 million in the previous year.

Quarterly, total revenues declined $4.4 million from $8.6 million in the previous year.

Revenues generated from internet advertising and related services decreased to $3.2 million from $8.6 million in the previous year. This decrease was mainly attributable to the epidemic control measures imposed by local governments in China as a result of the COVID-19 outbreak during the first fiscal quarter of 2020.

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