AirMedia: Strong Takeoff, Despite Market Plunge

In China, the advertising market is booming. And, so is the airline industry.

As a result, the combo is supercharging the growth of AirMedia (AMCN), as this company is the largest digital advertising network focused on the travel sector in China.

On Tuesday, the company came to America – for an IPO. The stock spiked 39% despite the plunge in the US markets.

AirMedia operates more than 2,000 digital TV screens in airports as well as over 16,000 screens on airplanes. And, yes, advertisers have come on board, such as China Mobile (CHL), Hitachi, Lenovo (LNVGY), and Nokia (NOK).

Revenues for the first nine months were $15.9 million, up from $6.7 million in the same period a year ago. There was also net income of $4 million.

To get more background, you can check out this fact sheet and this article.