NEW YORK (TheStreet) -- China Finance Online JRJC was jumping 11.8% to $5.77 Friday following its fourth-quarter results.
For the fourth quarter of fiscal 2013 the Chinese financial services company posted earnings of 2 cents a share. China Finance Online reported revenue of $25.8 million for the quarter, up 400% from the $5.2 million of revenue in the fourth quarter of 2012.
"We are very excited that our strategic transition has finally taken shape as we not only significantly grew our top line but also returned to profitability in the fourth quarter," the company said in a press release. "In the past three years, we focused on improving our business fundamentals and maintaining relationships with our online audience, while exploring viable new business opportunities to monetize our large user base. Now that our business model has evolved from providing financial information to providing financial services, we look forward to continuing to serve an increasingly large group of affluent Chinese investors."
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TheStreet Ratings team rates CHINA FINANCE ONLINE CO -ADR as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHINA FINANCE ONLINE CO -ADR (JRJC) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."