Shares of Focus Media Holding Ltd (FMCN.O), an outdoor advertising firm, climbed 10% on Tuesday, just one day after a posted 46% jump in quarterly revenue from growing popularity in its LCD display business.
Revenue for the firm’s LCD division rose to $166.1 million in the second quarter, a 48% growth for this sector. What caused the rise? A probable cause is the increased demand in China combined with an increase in spending from Japanese automakers.
Focus Media projects third-quarter sales from its core LCD network to be $175-$177 million. The mid-point of this projection would represent year-on-year growth of 37%.