- Associated Press - Monday, August 23, 2010

NEW YORK (AP) - _ Chinese advertising company Focus Media Holding Ltd. reported a second-quarter net income on Monday, up from a loss a year earlier thanks a "broad-based" recovery in the advertising market.

The company posted a net income of $25.3 million, or 17 cents per American depositary share, up from a loss of $23 million, or 18 cents per ADS, in the same period a year earlier.

The company’s adjusted earnings totaled 30 cents per ADS in the latest quarter.

Revenue rose 22 percent to $158.2 million from $129.5 million.

Analysts, on average, were expecting a profit of 23 cents per ADS on revenue of $142.7 million, according to a poll by Thomson Reuters.



Focus Media said it grew its market share during the quarter and is "confident that as we further stabilize and strengthen our core business, we can strive to continue our market share gain in the second half of 2010."

The company’s U.S.-traded shares rose 66 cents, or 3.6 percent, to $19.20 in after-hours trading. The stock had closed up 43 cents, or 2.4 percent, at $18.54.

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