AP NEWS

Phoenix New Media: 4Q Earnings Snapshot

March 23, 2020 GMT

BEIJING (AP) _ Phoenix New Media Ltd. (FENG) on Monday reported fourth-quarter net income of $131 million, after reporting a loss in the same period a year earlier.

The Beijing-based company said it had net income of $1.80 per share. Losses, adjusted for non-recurring gains, came to 16 cents per share.

The online media company posted revenue of $67.6 million in the period.

For the year, the company reported net income of $104.5 million, or $1.44 per share, swinging to a profit in the period. Revenue was reported as $219.9 million.

For the current quarter ending in April, Phoenix New Media said it expects revenue in the range of $36.3 million to $39.2 million.

In the final minutes of trading on Monday, the company’s shares hit $1.23. A year ago, they were trading at $4.27.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FENG at https://www.zacks.com/ap/FENG