Phoenix New Media Ltd ADR (FENG) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $0.01 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $-0.03. The company posted revenue of $44.70 million in the period, compared to analysts expectations of $53.46 million. The company’s revenue was down -34.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.
Phoenix New Media Ltd ADR opened for trading at $3.9 and hit $3.96 on the upside on Monday, eventually ending the session at $3.95, with a gain of 1.80% or 0.07 points. The heightened volatility saw the trading volume jump to 26,573 shares. Company has a market cap of $282 M.
Phoenix New Media Limited is a media company providing content on an integrated platform across Internet mobile and television (TV) channels in China. The Company’s in-house produced content allows its users to upload text and images (UGC) to its Websites. The Company enables consumers to access professional news and other quality information and UGC on the Internet and through their mobile devices. The Company also transmits its UGC and in-house produced content to TV viewers primarily through Phoenix TV. The Company’s platform includes ifeng.com channel consisting of its ifeng.com Website and Web-based game platform; video channel consists of its video vertical and mobile channel including its mobile Internet Website mobile applications and mobile value-added services. The Company offers a variety of paid services through both of its mobile and ifeng.com channels.