Mar. 7, 2012 (China Knowledge) - Phoenix New Media Ltd<FENG>, a spin-off unit of Chinese-language media company Phoenix Satellite Television Holdings<2008
>, has posted RMB 35.6 million or US$5.7 million-net profit for the fourth quarter of 2011, reflecting a year-on-year jump of 210.5%.
Adjusted net profit for the fourth quarter increased by 119.8% year on year from RMB 18.4 million to RMB 40.4 million.
In the three months ended Dec. 31, 2011, U.S.-listed Phoenix New Media's operating revenue increased by 77.2% year on year from RMB 158.3 million to RMB 280.5 million, exceeding the firm's previous forecast range between RMB 247 million and RMB 264 million.
For the whole year of 2011, the company's net profit reached RMB 102.5 million, up 38.3% from RMB 74.1 million in 2010.
Operating revenue for last year totaled RMB 950.6 million, up 79.8% year on year from RMB 528.7 million. The firm previously made a forecast range in operating revenue between RMB 917 million and RMB 934 million.
Phoenix New Media also expects its operating revenue for the first quarter of 2012 to be in the range of RMB 227 million to RMB 237 million, up 32% to 38% from a year earlier.