Q3 Phoenix satellite Television earnings lower than expectation

Phoenix satellite Television Holdings (8002) announced that the profits attributable to shareholders ended March 2001 registered a sharp rise of 343.99%, which pushed the stock soar 4.14% this morning. However, the Q3 earnings report recorded a loss of HK$11 mln, even worse than the expectation of Goldman Sachs which will likely further reduce its profit forecast.

Goldman Sachs estimated that the net profits of Phoenix satellite Television for Year 2001 and 2002 stand at HK$91 mln and HK$175 mln respectively.

Related stock : (8002)