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Beijing Bashi Media Q3 profit falls YOY

Beijing Bashi Media Co. Ltd. said its third-quarter normalized net income came to 4 fen per share, a decline of 35.0% from 5 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 30.8 million yuan, a decrease of 28.7% from 43.2 million yuan in the year-earlier period.

The normalized profit margin fell to 3.4% from 5.6% in the year-earlier period.

Total revenue rose 18.9% year over year to 923.7 million yuan from 777.0 million yuan, and total operating expenses rose 25.6% year over year to 863.0 million yuan from 687.4 million yuan.

Reported net income decreased 29.5% from the prior-year period to 38.8 million yuan, or 5 fen per share, from 55.1 million yuan, or 7 fen per share.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.