Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Chinese advertising expert Focus Media
So what: There was a lot for investors to cheer in the quarterly report. Revenue clocked in at $211 million, up 18% from last year and easily better than the $187 million that analysts were looking for. Non-GAAP earnings per share, meanwhile, leaped 69% year over year to $0.59, topping the $0.47 average Wall Street estimate.
Now what: What's even better is that the company also had a very bullish outlook for the rest of the year, as well as the company's opportunities for years into the future. Looking specifically at the fourth quarter, management projected both revenue and earnings above what Wall Street is currently expecting.
So why did investors lose their excitement as the day wore on? That's a good question, and it's one that I'll file under "mysteries of the market." The bottom line, though, is that for Focus Media investors, today's earnings report was one worth cheering.
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Fool contributor Matt Koppenheffer has no financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter, @KoppTheFool, or on Facebook. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.