SAN FRANCISCO (MarketWatch) -- Xinhua Finance Media shares rose 15% to $11.86 in Monday morning trade. The Beijing-based financial and entertainment media company reported that it swung to a first-quarter net profit of $12.6 million from a net loss of $806,273 last year. Net income attributable to common shareholders for the first quarter of 2007 was 13.8 cents share. Revenue rose to $16.7 million from $7.15 million. The company forecast second-quarter revenue of $22 million to $24 million, and 2007 revenue of $110 million. Xinhua Finance's American depositary shares had their initial public offering on March 9.
$11.75 (04/30/07)
