Chinese online video website LeTV reported on Wednesday a 20 percent jump in net profit for the first quarter (Q1) due to growth in views.

 

中国在线视频网站乐视网周三报道，因浏览量的增长，2016第一季度净利润增长20%。

 

Leshi Internet Information & Technology Corp, or LeTV, reaped 114.7 million yuan (17.8 million U.S. dollars) of net profit attributable to shareholders¹ in Q1, according to the company's financial statement.

 

Profits were up 20.3 percent year on year, nearly double the 11.3 percent growth in the same period of last year.

 

Business revenue surged 117.2 percent from a year earlier to 4.6 billion yuan.

 

The company attributed the earnings² increase to steadily³ expanding viewer coverage⁴ and advertising⁵ income.

 

The website clocked 410 million average daily visits in Q1, up from 270 million at the end of March 2015.

 

This growth in viewers growth helped drive advertising income up by over 60 percent, the company said.

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