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Airmedia ups Q4 revenue guidance

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Chinese display ad company AirMedia Group (NASDAQ:AMCN) said Tuesday it expects fourth-quarter revenues of between $84 and $86 million, a year-on-year increase of 18.7 to 21.5 percent.

The previous guidance was for total revenues of $79.0 to $81 million.

Shares in the company rose eight percent Tuesday afternoon to $3.90.

In a statement, AirMedia chairman and chief executive Herman Guo said: "The company is able to raise guidance for the fourth quarter of 2011 due to stronger-than-expected advertising demand in the fourth quarter and less-than-anticipated impact from the flood in Thailand."

In November, the digital advertising screen company said third quarter revenues jumped 16 percent from a year earlier, topping its own guidance and helping to narrow losses for the third quarter.

Quick facts: AirMedia Group Inc (ADR)

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NASDAQ:AMCN
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