Focus Media Jumps on Q2 Earnings Beat

Shares of Focus Media FMCN are trading higher in the after-hours following the release of the company's Q2 earnings results. Currently, shares are higher by 6.18%, trading at $28.87; they ended the regular session lower by 1.16%, at $27.19. Focus Media reported Q2 EPS of $0.44 on revenues of $179 million. EPS excluded $0.07 in non-recurring items. The Street was looking for $0.37 per share on revenues of $163.3 million. Revenues increased 13.1% year over year. Jason Jiang, Chairman and Chief Executive Officer of Focus Media said, "We are on schedule to complete installation of Focus Media's interactive screens in seven cities by October.” “We believe installation of these interactive screens is a vital revolutionary step that will transform our relationships with Chinese consumers by forming an intimate and interactive tie between the Focus media platform and Chinese consumers, providing advertisers with an interactive and measurable advertising media platform that can make a direct sales impact. We believe our offering of an interactive and measurable media platform will not only meaningfully expand our media resources, but it will also greatly enhance our value proposition and pricing power to advertisers." Focus Media Holding Limited operates an interactive digital media network. The company offers interactive digital media platforms aimed at Chinese consumers.