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.

Key Stats:

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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