Chinese mobile music company Hurray has reported its fourth quarter and yearly results, showing revenues for the three months ending Dec 31st of $17 million, a sequential decline of 5.6 percent but a growth of 6.3 percent over the fourth quarter 2005. Its wireless value-added services revenues were $15.1 million, a decline of 7.8 percent quarter-over-quarter and growth of 11.5 percent year-over-year. For the year of 2006 total revenues were $70.1 million, representing a 10.7 percent increase from $63.4 million for fiscal year 2005…of that $62.5 million was from wireless VAS, an increase of 11.5 percent over 2005.
Hurray found revenues from its 2.5G services (primarily WAP) fell 37.4 percent for 2006 compared to 2005, but revenues from its 2G services rose 61.8 percent, mainly due to strong increases in SMS revenue.
Earnings Release
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