Focus Media Earnings: Beats the Street on Profit Rise
Focus Media Holding Limited (NASDAQ:FMCN) reported net income above Wall Street’s expectations for the third quarter. Focus Media Holding is engaged in selling out-of-home television advertising time slots on its network of flat-panel television advertising displays located in high traffic areas.
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Focus Media Holding Limited Earnings Cheat Sheet
Results: Net income for Focus Media Holding Limited rose to $64.6 million (48 cents per share) vs. $62.2 million (44 cents per share) in the same quarter a year earlier. This marks a rise of 3.8% from the year-earlier quarter.
Revenue: Rose 23% to $256.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Focus Media Holding Limited reported adjusted net income of 71 cents per share. By that measure, the company beat the mean estimate of 59 cents per share.
The company has now seen its net income rise for three quarters in a row. In the second quarter, net income rose 37.6% and in the first quarter, the figure rose 84.5%.
The company has now topped analyst estimates for the last four quarters. It beat the mark by 2 cents in the second quarter, by 3 cents in the first quarter, and by 8 cents in the fourth quarter of the last fiscal year.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from 74 cents a share to 71 cents over the last ninety days. For the fiscal year, the average estimate has moved up from $2.11 a share to $2.12 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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