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Beijing Bashi Media Q2 profit falls YOY

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Beijing Bashi Media Q2 profit falls YOY

Beijing Bashi Media Co. Ltd. said its second-quarter normalized net income was 3 fen per share, a decline of 54.2% from 6 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 20.3 million yuan, a decrease of 57.2% from 47.5 million yuan in the prior-year period.

The normalized profit margin declined to 2.5% from 6.2% in the year-earlier period.

Total revenue climbed 8.2% year over year to 825.6 million yuan from 763.0 million yuan, and total operating expenses climbed 15.1% on an annual basis to 782.4 million yuan from 679.8 million yuan.

Reported net income fell 57.1% from the prior-year period to 25.8 million yuan, or 4 fen per share, from 60.2 million yuan, or 8 fen per share.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.