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Phoenix New Media's profit down 80% in Q3

Nov. 22, 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 11.5 million-net profit for the third quarter of this year, reflecting a YoY decrease of 79.8% from RMB 56.8 million.

In the reporting period, U.S.-listed Phoenix New Media saw its diluted earnings per American Depositary Share reach RMB 0.14, and its adjusted diluted earnings per ADS were RMB 0.17 in the quarter.

Total revenue for the third quarter of 2012 increased by 5.8% YoY from RMB 270.8 million and reached RMB 286.4 million, mainly due to an 11.4% growth in advertising revenue.

For the fourth quarter of 2012, Phoenix New Media expects its total revenue to be between RMB 266 million and RMB 276 million.

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