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YuuZoo sinks into the red in 4Q with $0.9 mil loss on lower revenue

Michelle Zhu
Michelle Zhu2/28/2017 06:52 PM GMT+08  • 2 min read
YuuZoo sinks into the red in 4Q with $0.9 mil loss on lower revenue
SINGAPORE (Feb 28): YuuZoo Corporation reported a loss of $0.9 million for the 4Q16 due to lower sales compared to restated earnings of $4.7 million in 4Q15.
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SINGAPORE (Feb 28): YuuZoo Corporation reported a loss of $0.9 million for the 4Q16 due to lower sales compared to restated earnings of $4.7 million in 4Q15.

Revenue for the quarter fell 81% to $9.4 million from $49 million in the previous year, mainly due to a drop in sale of franchise licence and payment revenue.

Cost of services, which mainly relates to e-commerce transactions, decreased to $5.2 million in 4Q16 compared to $21.5 million in 4Q15, mainly due to lower payment transactions processed during the quarter in review.

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