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Revisions

YuuZoo changes revenue recognition policy; reports 17% lower 2Q revenue

PC Lee Published on Wed, Aug 16, 2017 / 7:29 AM GMT+8

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SINGAPORE (Aug 16): YuuZoo Corporation posted 2Q17 net profit of $8.4 million, compared to a net loss of $1.4 million in 2Q16 a year ago.

However, the company’s 2Q17 revenue ended at $17.7 million, 17% lower than the $21.3 million reported a year ago.

The decrease was mainly due to change in adoption of a more prudent means of revenue recognition as well as lower payment revenue.

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