Focus Media Jumps After-Hours
Shares of Focus Media (NASDAQ: FMCN) are trading higher in the after-hours following the release of the company's Q4 earnings results. Currently, shares are higher by 4.89%, trading at $29.40; they ended the regular session higher by 2.15%, at $28.03.
Focus Media reported Q4 EPS of $0.70 on revenues of $256.4 million. Revenues increased by 63% year over year.
Jason Jiang, Chairman and Chief Executive Officer of Focus Media said, "We are encouraged by our solid operating performance across all our core business lines as we ended 2011 on a strong note. Our strong fourth quarter performance was partially helped by some advertisers starting advertising campaigns in late 2011 due to an earlier Chinese lunar new year in 2012.”
“Despite a weaker first quarter due to seasonality associated with an earlier Chinese new year, we remain confident over the continuous growth of advertising revenues for 2012. As we look forward to 2012, while we stay focused on improving our core businesses performance, we will continue to explore new business models for employing interactive screens."
The company sees Q1 Core Revenues in the range of $177-179 million.
Focus Media Holding Limited operates an interactive digital media network. The company offers interactive digital media platforms aimed at Chinese consumers.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.