Focus Media Q3 2008 Net Profit Up 42%
Focus Media Press Release, 11/10/08
Chinese digital media firm Focus Media (Nasdaq: FMCN) has announced its unaudited financial results for Q3 2008, with total revenues reaching USD 224.8 mln, up 63.7% year-on-year and 6.2% quarter-on-quarter.
Net income for the quarter came to USD 51.3 mln, up 42% QoQ and 10.15% YoY
Q3 revenue from digital out-of-home advertising was USD 153.8 mln, up 62.4% year-on-year and 13.6% quarter-on-quarter. Of this total, advertising service revenue from the company's commercial location network grew 44.1% YoY and 14.8% QoQ to USD 93.1 mln; that from its in-store network, including revenues from CGEN Digital Media Company Limited, increased to USD 16.8 mln, up 136.6% YoY, but down 1.2% from the Q2 total of USD 17.0 mln; and that from its in-elevator poster frame network jumped 90.6% YoY and 17.8% QoQ to USD 44.0 mln.
Internet advertising revenue for Q3 was USD 70.8 mln, up 66.5% YoY but down 7.0% QoQ.
The company estimates Q4 2008 revenues will fall to between USD 190 mln to USD 200 mln.
To see Focus Media's full Q3 earnings report, please click here.
Keywords: digital media FMCN Focus Media profit Q3 2008 Q4 2008 revenue television fiscal report online advertising out-of-home display
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