Focus Media Rallies

Shares of Focus Media (FMCN), the leading flat panel display advertiser in China, rallied 9% Monday following an earnings beat and rosy projections for next quarter.

Earnings came in at 44 cents per share on revenue of $211.7 million vs. a consensus estimate of 40 cents per share on sales of $191.8 million.

In recent months, the stock has languished following the overall Chinese market downward, as well as the earthquake impact. However, the business appears to have weathered these factors well and is now rebounding off recent 52 week lows.

The stock has been prone to massive one day jumps and tumbles, such as last year's regulatory filing debacle, when shares soared over 20% upon resolution.

Looking Ahead to Next Quarter:
The CEO said that 3rd quarter gains would come from non-Olympic sponsor advertisers, who will be raising their spending after the Olympics are over. He forecast earnings of 53 cents to 54 vs. a current 51 cent consensus estimate.

Comments

[rlirph:]

That sounds advertisement to me....

2008 Aug 20 12:28 PM

[buyforeclos...:]

IN 2007 a Top chinese stock expert predicted FMCN as the best stock in 2008....and maybe it still could be

www.bloggingstocks.com.../

2008 Aug 29 09:13 PM