Phoenix New Media Q3 2012 Profit Falls 80% YoY
Phoenix New Media, 11/20/12
Chinese wireless and TV new media company Phoenix New Media (PNM) (NYSE: FENG), a subsidiary of Phoenix TV (2008.HK), has announced its financial results for the three months ended September 30, 2012. Q3 2012 net revenues increased 5.8% YoY to RMB 286.4 mln (USD 45.6 mln) from RMB 270.8 mln in the third quarter of 2011.
Net income attributable to Phoenix New Media for the third quarter of 2012 was RMB 11.5 mln (USD 1.8 mln), down 79.8% YoY RMB 56.8 mln in the third quarter of 2011.
Net advertising revenues, calculated net of advertising agency service fees, for the third quarter of 2012 increased by 11.4% YoY to RMB 140.5 mln (USD 22.4 mln) from RMB 126.2 mln in the third quarter of 2011, primarily due to an increase in average revenue per advertiser (ARPA) of 35.5% YoY to RMB 585,500 (USD 93,100) for 240 total advertisers.
Paid service revenues for the third quarter of 2012 increased by 0.9% YoY to RMB 145.8 mln (USD 23.2 mln) from RMB 144.6 mln in the third quarter of 2011. Mobile Internet and value-added services (MIVAS) revenues decreased by 7.0% YoY to RMB 125.5 mln (USD 20.0 mln) in the third quarter of 2012 from RMB 134.9 mln in the third quarter of 2011 due to the expected decrease in sales from 2G text message based pay-per-view services. Video value-added services (video VAS) revenues increased by 109.9% YoY to RMB 20.4 mln (USD 3.2 mln) in the third quarter of 2012 from RMB 9.7 mln in the third quarter of 2011, primarily due to an expansion in video VAS user base across the three major telecom operators in China.
For the fourth quarter of 2012, the company expects its total revenues to be between RMB 266 mln and RMB 276 mln. Net advertising revenues are expected to be between RMB 166 mln and RMB 171 mln. Paid service revenues are expected to be between RMB 100 mln and RMB 105 mln.
To view the complete report please see here.
Keywords: online video portal WVAS online advertising Internet profit revenue wireless iFeng Phoenix New Media Phoenix TV mobile Internet 2008.HK FENG Q3 2012 television fiscal report
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