This story was written by Joseph Weisenthal.
Chinese advertising and media firm Xinhua Financial Media (NSDQ: XFML) reported Q2 revenue of $48.9 million, up 69 percent over $29 million in the year-ago quarter. Adjusted net income grew to $7.6 million ($.10 per share) from $6.3 million ($.09 per share). The advertising group was up a strong 79 percent to $16.7 million. Print and online, which are grouped together more than double to $12 million. Broadcast revenue nearly doubled to $14 million from $7.2 million a year ago.
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Disclaimer: Our board member Larry Kramer is also on the board of XFML.
By Joseph Weisenthal