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Tag: Yeah1

  • Yeah1 profits double in Q3

    Yeah1 profits double in Q3

    Online entertainment company Yeah1 said profits for the third quarter nearly doubled from the previous one to VND14.8 billion (US$597,000).

    The profits for the first nine months topped VND22 billion, as against losses of over VND253 billion a year earlier, on revenues of VND207 billion, a year-on-year decline of 76%.

    More than half the revenues came from media and advertising consultancy and event organization.

    The company, whose equity stands at over VND900 billion, plans to increase it this year by issuing 78.6 million new shares to invest in digital media, tech media and fintech.

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  • Yeah1 suffers another year of loss

    Yeah1 suffers another year of loss

    Media company Yeah1 reported a post-tax loss of VND151 billion ($6.55 million) last year, its second straight year of losses, as it developed a new business.

    Amid the Covid-19 pandemic the company, one of the largest digital media ecosystems in Vietnam, decided to set up a new multi-channel trading platform, Giga1, which seeks to cut out intermediaries and deliver goods directly from manufacturers to customers.

    “In 2020, we spent a lot of resources on this ecosystem of consumption and retail, which led to higher spending and affected the company’s profits,” Nguyen Dang Quynh Anh, deputy director of Yeah1, said.

    Revenues fell by 16 percent last year to VND1.22 trillion. In March, its contract with YouTube was terminated due to a violation of policies.

    It began as an operational error but later “turned into a real crisis for the company,” chairman Nguyen Anh Nhuong Tong said.