Focus Media Holdings
is a digital media company.
Net revenue for the first quarter of 2011 was $146.6 million, exceeding the company's own guidance range of $122 million to 124 million. Net revenue improved 50% year-over-year during the March quarter.
Commenting on the future plans, Jason Jiang, Focus Media's CEO, said in a press statement, "We plan to launch Focus Media's next generation of screens in seven cities in the second half of this year. We believe these next-generation screens will equip Focus Media with capabilities to provide interactive, measurable, location based search (LBS) services to advertisers, which we believe is of great importance for Focus Media's next era of growth. We also plan to embark upon a small minority investment in a company that will work hand in hand with Focus Media to provide online and mobile services support to enhance Focus Media's LBS capability."
Net income for the first quarter of 2011 was $42.4 million, also beating its earlier guidance range of $36 million to $38 million for the first quarter. The stock is up 47% year-to-date. Analysts expect the stock to gain around 22% over the next one year and assign buy ratings of 75%.
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