Focus Media Earnings: Here’s Why Shares are Down Now
Focus Media Holding Ltd. (NASDAQ:FMCN) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.11%.
Focus Media Holding Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 1.43% to $0.71 in the quarter versus EPS of $0.70 in the year-earlier quarter.
Revenue: Decreased 2.43% to $250.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Focus Media Holding Ltd. reported adjusted EPS income of $0.71 per share. By that measure, the company missed the mean analyst estimate of $0.72. It beat the average revenue estimate of $248.86 million.
Quoting Management: Jason Jiang, Chairman and Chief Executive Officer of Focus Media said, “In the fourth quarter of 2012, our operation’s performance was in-line with our previous expectations as we continue to be affected by a slower overall advertising spending in China.”
Key Stats (on next page)…