NEW YORK (TheStreet) -- AirMedia Group (AMCN) shares are down 0.43% to $2.34 on Monday after the Chinese mobile advertising platform company reported its third quarter earnings results after the closing bell today.
The company reported an 8.9% year over year decrease in third quarter net revenue to $62.9 million, well short of analysts $103 million revenue expectations.
AirMedia also reported a quarterly net loss attributable to shareholders of $5.5 million, or 10 cents per diluted share, 4 cents worse than the 6 cent per share loss it posted during the same period last year.
TheStreet Ratings team rates AIRMEDIA GROUP INC -ADS as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate AIRMEDIA GROUP INC -ADS (AMCN) 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 solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and poor profit margins."