Phoenix New Media: 3Q Earnings Snapshot
BEIJING (AP) _ Phoenix New Media Ltd. (FENG) on Monday reported third-quarter net income of $285,000, after reporting a loss in the same period a year earlier.
The Beijing-based company said it had profit of 1 cent per share. Losses, adjusted for non-recurring gains, came to 10 cents per share.
The online media company posted revenue of $53.2 million in the period.
For the current quarter ending in December, Phoenix New Media said it expects revenue in the range of $61.5 million to $64.3 million.
In the final minutes of trading on Monday, the company’s shares hit $2.80. A year ago, they were trading at $3.51.