Alleged $470 Million Youtube Loss will be cleared this week

Google announced its plans to hold a quarterly conference call to discuss first quarter 2009 financial results on Thursday, April 16, 2009 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time).

Credit Suisse analyst Spence Wang in a note to investors, in which he predicted that the web firm's video service will make a loss of this year. Wang's estimates, the video site is due to lose $470 million an incredible amount for a website that Google bought for $1.65bn just two and a half years ago, Wang points out that most ad inventory is unsold.

Despite of Youtube's 41% share in video market, it will only accumulate $240 million profit compare to a $711 million operating costs this year, according to Credit Suisse.

Google will host an additional question and answer session that will follows after the earnings conference call at at 3:00 p.m. Pacific Time (6:00 p.m. Eastern Time) to provide an opportunity for financial analysts to ask more detailed product and financial questions.