Phoenix New Media Reports Fourth Quarter and Fiscal Year 2012 Unaudited Financial Results

   Phoenix New Media Reports Fourth Quarter and Fiscal Year 2012 Unaudited
                              Financial Results

4Q12 Net Advertising Revenues Up 28.4% YOY

FY2012 Net Advertising Revenues Up 31.0%

FY2012 Total Revenues Exceed RMB1.1 Billion

Live Conference Call to be Held at 8:00 PM U.S. Eastern Time on March 6

PR Newswire

BEIJING, March 6, 2013

BEIJING, March 6, 2013 /PRNewswire/ -- Phoenix New Media Limited (NYSE: FENG),
a leading new media company in China ("Phoenix New Media", "ifeng" or the
"Company"), today announced its unaudited financial results for the fourth
quarter and fiscal year ended December 31, 2012.

Fourth Quarter and Fiscal Year 2012 Highlights

  oTotal revenues for the fourth quarter of 2012 increased by 7.8%
    year-over-year to RMB302.2 million (US$48.5 million), primarily driven by
    a 28.4% increase in net advertising revenues.
  oTotal revenues for fiscal year 2012 increased by 16.9% year-over-year to
    RMB1.1 billion (US$178.3 million), primarily driven by a 31.0% increase in
    net advertising revenues.
  oNet income attributable to Phoenix New Media for fiscal year 2012
    increased by 4.8% year-over-year to RMB107.4 million (US$17.2 million).

Mr. Shuang Liu, CEO of Phoenix New Media, stated, "We are very pleased that
for the year of 2012, we continued to outpace other major online portals in
China with our online advertising revenue growing 31.0% and the number of
daily unique visitors growing 63.8% year-over-year. In particular, we are very
encouraged to see a sizeable rebound in our advertising sales in the fourth
quarter, which speaks to the success of our strategy and operation. As a
result of our recently streamlined sales operation, we have realized strong
growth in APRA over the quarter while enhancing our client base and
relationships. Benefiting from our proprietary content offering, our video
advertising sales have led to an incremental increase in both sales and number
of clients, providing us with additional revenue streams for this quarter and
beyond.

Going forward, as one of China's most influential media companies, we are
confident that our strategy of expanding exclusive and premium content across
PC and mobile Internet platforms, coupled with our proven execution
capabilities, will further strengthen our influence in today's increasingly
digital and mobile world."

Fourth Quarter 2012 Financial Results

REVENUES

Total revenues for the fourth quarter of 2012 increased by 7.8% to RMB302.2
million (US$48.5 million) from RMB280.5 million in the fourth quarter of 2011.

Net advertising revenues, calculated net of advertising agency service fees,
for the fourth quarter of 2012 increased by 28.4% to RMB193.1 million (US$31.0
million) from RMB150.4 million in the fourth quarter of 2011, primarily due to
an increase in average revenue per advertiser ("ARPA") of 26.4% to RMB605,450
(US$97,180) for 319 total advertisers.

Paid service revenues for the fourth quarter of 2012 decreased by 16.1% to
RMB109.1 million (US$17.5 million) from RMB130.0 million in the fourth quarter
of 2011. Mobile Internet and value-added services ("MIVAS")[1] revenues
decreased by 20.0% to RMB95.3 million (US$15.3 million) in the fourth quarter
of 2012 from RMB119.1 million in the fourth quarter of 2011 due to the
expected decrease in user demand from 2G text message based wireless
value-added services ("WVAS"). Video value-added services ("video VAS")
revenues increased by 26.1% to RMB13.7 million (US$2.2 million) in the fourth
quarter of 2012 from RMB10.9 million in the fourth quarter of 2011, primarily
due to an expansion in video VAS user base across the three major telecom
operators in China.

COST OF REVENUES AND GROSS PROFIT

Cost of revenues for the fourth quarter of 2012 increased by 0.5% to RMB165.1
million (US$26.5 million) from RMB164.2 million in the fourth quarter of 2011.
Revenue sharing fees to telecom operators and channel partners decreased to
RMB47.3 million (US$7.6 million) in the fourth quarter of 2012 from RMB78.5
million in the fourth quarter of 2011, primarily due to the decrease in MIVAS
revenues. Content and operational costs increased to RMB73.1 million (US$11.7
million) in the fourth quarter of 2012 from RMB53.4 million in the fourth
quarter of 2011 due to the increase in staff-related costs, office rental
fees, as well as the increase in content production and acquisition costs.
Bandwidth costs increased to RMB19.0 million (US$3.1 million) in the fourth
quarter of 2012 from RMB12.3 million in the fourth quarter of 2011 primarily
due to the significant growth in user traffic. Sales tax and surcharges
increased to RMB25.6 million (US$4.1 million) in the fourth quarter of 2012
from RMB20.0 million in the fourth quarter of 2011. Share-based compensation
expenses included in cost of revenues was negative RMB1.1 million (US$0.2
million) in the fourth quarter of 2012 as compared to RMB1.0 million in the
fourth quarter of 2011, primarily due to the adjustment of the estimated
forfeiture rate[2].

Gross profit for the fourth quarter of 2012 increased by 18.0% to RMB137.1
million (US$22.0 million) from RMB116.2 million in the fourth quarter of 2011.
Gross margin increased to 45.4% in the fourth quarter of 2012 from 41.4% in
the fourth quarter of 2011, mainly due to the increased revenue contribution
from higher-margin advertising services business, partially offset by the
aforementioned increase in content and operational costs. Adjusted gross
margin[3], which excludes share-based compensation expenses, increased to
45.0% in the fourth quarter of 2012 from 41.8% in the fourth quarter of 2011.

OPERATING EXPENSESAND INCOME FROM OPERATIONS

Total operating expenses for the fourth quarter of 2012 increased by 31.2% to
RMB118.4 million (US$19.0 million) from RMB90.2 million in the fourth quarter
of 2011. The increase in operating expenses was primarily attributable to the
increase in staff-related costs, sales and marketing expenses associated with
the Company's marketing and promotions, and office rental fees. Share-based
compensation expenses included in operating expenses were negative RMB1.0
million (US$0.2 million) in the fourth quarter of 2012 as compared to RMB3.8
million in the fourth quarter of 2011, primarily due to the adjustment of the
estimated forfeiture rate.

Income from operations for the fourth quarter of 2012 was RMB18.7 million
(US$3.0 million) as compared to RMB26.0 million in the fourth quarter of 2011.
Operating margin was 6.2% for the fourth quarter of 2012 as compared to 9.3%
in the fourth quarter of 2011. The decrease in operating margin was primarily
due to the increase in staff-related costs, sales and marketing expenses
associated with the Company's marketing and promotions, and office rental
fees.

Adjusted income from operations, which excludes the impact of share-based
compensation expenses, for the fourth quarter of 2012 was RMB16.6 million
(US$2.7 million) as compared to RMB30.8 million in the fourth quarter of
2011.Adjusted operating margin was 5.5% for the fourth quarter of 2012 as
compared to 11.0% in the fourth quarter of 2011.

FOREIGN CURRENCY EXCHANGE GAIN/LOSS AND INTEREST INCOME

Foreign currency exchange gain for the fourth quarter of 2012 was RMB6.6
million (US$1.1 million), as compared to RMB6.4 million in the fourth quarter
of 2011. Interest income for the fourth quarter of 2012 was RMB7.4 million
(US$1.2 million), as compared to RMB4.5 million in the fourth quarter of 2011.

NET INCOME

Net income attributable to Phoenix New Media for the fourth quarter of 2012
was RMB27.9 million (US$4.5 million) as compared to RMB35.6 million in the
fourth quarter of 2011. Net margin for the fourth quarter of 2012 was 9.2% as
compared to 12.7% in the fourth quarter of 2011.Net income per diluted ADS[4]
in the fourth quarter of 2012 was RMB0.35 (US$0.06) as compared to RMB0.44 in
the fourth quarter of 2011.

Adjusted net income attributable to Phoenix New Media for the fourth quarter
of 2012, which excludes share-based compensation expenses, was RMB25.8 million
(US$4.1 million) as compared to RMB40.4 million in the fourth quarter of 2011.
Adjusted net margin for the fourth quarter of 2012 was 8.5% as compared to
14.4% in the fourth quarter of 2011. Adjusted net income per diluted ADS was
RMB0.33 (US$0.05) in the fourth quarter of 2012, as compared to RMB0.50 in the
fourth quarter of 2011.

As of December 31, 2012, the Company's cash, cash equivalents and term
deposits was RMB1.2 billion (US$184.8 million).

For the fourth quarter of 2012, the Company's weighted average number of ADS
used in computing diluted net income per ADS was 79,027,196.

Fiscal Year 2012 Financial Results

REVENUES

Total revenues for fiscal year 2012 increased by 16.9% to RMB1.1 billion
(US$178.3 million) from RMB950.6 million in fiscal year 2011.

Net advertising revenues, calculated net of advertising agency service fees,
for fiscal year 2012 increased by 31.0% to RMB610.2 million (US$97.9 million)
from RMB465.8 million in fiscal year 2011. This increase was primarily due to
an increase in average revenue per advertiser ("ARPA") of 40.0% to RMB1.2
million (US$0.2 million) for 522 total advertisers.

Paid service revenues for fiscal year 2012 increased by 3.3% to RMB500.8
million (US$80.4 million) from RMB484.8 million in fiscal year 2011. The
growth in paid service revenues primarily reflected the Company's efforts in
product distribution, diversification and marketing activities.

COST OF REVENUES AND GROSS PROFIT

Cost of revenues for fiscal year 2012 increased by 13.8% to RMB631.3 million
(US$101.3 million) from RMB554.7 million in fiscal year 2011. Share-based
compensation expense included in cost of revenues was RMB1.0 million (US$0.2
million) in fiscal year 2012.

Gross profit for fiscal year 2012 increased by 21.2% to RMB479.7 million
(US$77.0 million) from RMB395.9 million in fiscal year 2011.

Gross margin increased to 43.2% for fiscal year 2012 from 41.6% in fiscal year
2011. Adjusted gross margin, which excludes the impact of share-based
compensation expense, decreased slightly to 43.3% for fiscal year 2012 from
43.7% in fiscal year 2011.

OPERATING EXPENSES AND INCOME FROM OPERATIONS

Total operating expenses for fiscal year 2012 increased by 27.4% to RMB395.1
million (US$63.4 million) from RMB310.2 million in fiscal year 2011. The
increase in operating expenses was primarily due to the increase in
staff-related costs, sales and marketing expenses associated with the
Company's marketing and promotions, and office rental fees. Share-based
compensation expense included in operating expenses was RMB5.8 million (US$0.9
million) in fiscal year 2012 as compared to RMB46.6 million in fiscal year
2011.

Income from operations for fiscal year 2012 was RMB84.6 million (US$13.6
million) as compared to RMB85.7 million in fiscal year 2011. Operating income
margin was 7.6% for fiscal year 2012 as compared to 9.0% in fiscal year 2011.

Adjusted income from operations, which excludes the impact of share-based
compensation expense, for fiscal year 2012 was RMB91.4 million (US$14.7
million) as compared to RMB151.8 million in fiscal year 2011. Adjusted
operating income margin was 8.2% for fiscal year 2012, as compared to 16.0% in
fiscal year 2011.

NET INCOME

Net income attributable to Phoenix New Media for fiscal year 2012 increased by
4.8% to RMB107.4 million (US$17.2 million) from RMB102.5 million in fiscal
year 2011. Net margin for fiscal year 2012 was 9.7% as compared to 10.8% in
fiscal year 2011. Net income attributable to ordinary shareholders for fiscal
year 2012 was RMB107.4 million (US$17.2 million), as compared to a net loss
attributable to ordinary shareholders of RMB677.3 million in fiscal year 2011.
Net income per diluted ADS in fiscal year 2012 was RMB1.33 (US$0.21) as
compared to a net loss per diluted ADS of RMB10.44 in fiscal year 2011.

Adjusted net income attributable to Phoenix New Media for fiscal year 2012,
which excludes share-based compensation expenses, was RMB114.1 million
(US$18.3 million) as compared to RMB168.6 million in fiscal year 2011.
Adjusted net margin for fiscal year 2012 was 10.3% as compared to 17.7% in
fiscal year 2011. Adjusted net income attributable to Phoenix New Media per
diluted ADS was RMB1.42 (US$0.23) for fiscal year 2012, as compared to RMB2.23
in fiscal year 2011.

Business Outlook

For the first quarter of 2013, the Company expects its total revenues to be
between RMB271 million and RMB280 million. Net advertising revenues are
expected to be between RMB161 million and RMB166 million. Paid service
revenues are expected to be between RMB110 million and RMB114 million. These
forecasts reflect the Company's current and preliminary view on the market and
operational conditions, which are subject to change.

Share Repurchase Program

As of December 31, 2012, the Company had repurchased an aggregate of 2,273,695
American Depositary Shares ("ADSs") at an aggregate cost of approximately
US$8.3 million on the open market. Under its ADS repurchase program, the
Company has been authorized to repurchase up to US$20.0 million of its
outstanding ADSs for a period not exceeding twelve (12) months since August
2012. The Company expects to continue to implement its share repurchase
program in a manner consistent with market conditions and the interest of its
shareholders, subject to the restrictions relating to volume, price and timing
under applicable law.

Conference Call Information

The Company will hold a conference call at 8:00p.m. U.S. Eastern Time on March
6, 2013 (March 7, 2013 at 9:00a.m. Beijing / Hong Kong time) to discuss its
fourth quarter and fiscal year 2012 financial results and operating
performance.

To participate in the call, please dial the following numbers:

International:         +6567239385
China: 4001200654
Hong Kong:      +85230512745
United States:      +16462543515
Conference ID:    12811711

A replay of the call will be available through March 13, 2013 by dialing the
following numbers:

International:        +61281990299
China: 4001200932
United States:   +18554525696
Hong Kong:                 +85230512780
Conference ID:             12811711

A live and archived webcast of the conference call will also be available at
the Company's investor relations website at http://ir.ifeng.com

Use of Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance
with the United States Generally Accepted Accounting Principles ("GAAP"),
Phoenix New Media uses adjusted gross profit, adjusted gross margin, adjusted
income from operations, adjusted operating margin, adjusted net income
attributable to Phoenix New Media, adjusted net margin, adjusted net income
attributable to ordinary shareholders and adjusted net income per diluted ADS,
each of which is a non-GAAP financial measure. Adjusted gross profit is gross
profit excluding share-based compensation expenses. Adjusted gross margin is
adjusted gross profit divided by total revenues. Adjusted income from
operations is income from operations excluding share-based compensation
expenses. Adjusted operating margin is adjusted income from operations divided
by total revenues. Adjusted net income attributable to Phoenix New Media is
net income attributable to Phoenix New Media excluding share-based
compensation expenses. Adjusted net margin is adjusted net income attributable
to Phoenix New Media divided by total revenues. Adjusted net income
attributable to ordinary shareholders is net income attributable to ordinary
shareholders excluding share-based compensation expenses. Adjusted net income
per diluted ADS is adjusted net income attributable to ordinary shareholders
divided by weighted average number of diluted ADS. The Company believes that
separate analysis and exclusion of the non-cash impact of share-based
compensation adds clarity to the constituent parts of its performance. The
Company reviews adjusted net income together with net income to obtain a
better understanding of its operating performance. It uses this non-GAAP
financial measure for planning, forecasting and measuring results against the
forecast. The Company believes that using multiple measures to evaluate its
business allows both management and investors to assess the company's
performance against its competitors and ultimately monitor its capacity to
generate returns for its investors. The Company also believes that non-GAAP
financial measures are useful supplemental information for investors and
analysts to assess its operating performance without the effect of non-cash
share-based compensation expenses, which have been and will continue to be
significant recurring expenses in its business. However, the use of non-GAAP
financial measures has material limitations as an analytical tool. One of the
limitations of using non-GAAP financial measures is that they do not include
all items that impact the Company's net income for the period. In addition,
because non-GAAP financial measures are not measured in the same manner by all
companies, they may not be comparable to other similar titled measures used by
other companies. In light of the foregoing limitations, you should not
consider non-GAAP financial measure in isolation from or as an alternative to
the financial measure prepared in accordance with U.S. GAAP.

Exchange Rate

This announcement contains translations of certain RMB amounts into U.S.
dollars ("USD") at specified rates solely for the convenience of the reader.
Unless otherwise stated, all translations from RMB to USD were made at the
rate of RMB6.2301 to US$1.00, the noon buying rate in effect on December 31,
2012 in the H.10 statistical release of the Federal Reserve Board. The Company
makes no representation that the RMB or USD amounts referred could be
converted into USD or RMB, as the case may be, at any particular rate or at
all. For analytical presentation, all percentages are calculated using the
numbers presented in the financial statements contained in this earnings
release.

About Phoenix New Media Limited

Phoenix New Media Limited (NYSE: FENG) is the leading new media company
providing premium content on an integrated platform across Internet, mobile
and TV channels in China. Having originated from a leading global Chinese
language TV network based in Hong Kong, Phoenix TV, the Company enables
consumers to access professional news and other quality information and share
user-generated content on the Internet and through their mobile devices.
Phoenix New Media's platform includes its ifeng.com channel, consisting of its
ifeng.com website, its video channel, comprised of its dedicated video
vertical and video services and applications, and its mobile channel,
including its mobile Internet website and mobile Internet and value-added
services ("MIVAS").

Safe Harbor Statement

This announcement contains forward−looking statements. These statements are
made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward−looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements. Among
other things, the business outlook and quotations from management in this
announcement, as well as Phoenix New Media's strategic and operational plans,
contain forward−looking statements. Phoenix New Media may also make written or
oral forward−looking statements in its periodic reports to the U.S. Securities
and Exchange Commission ("SEC") on Forms 20−F and 6−K in its annual report to
shareholders, in press releases and other written materials and in oral
statements made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements about Phoenix
New Media's beliefs and expectations, are forward−looking statements.
Forward−looking statements involve inherent risks and uncertainties. A number
of factors could cause actual results to differ materially from those
contained in any forward−looking statement, including but not limited to the
following: the Company's goals and strategies; the Company's future business
development, financial condition and results of operations; the expected
growth of the online and mobile advertising, online video and mobile paid
service markets in China; the Company's reliance on online advertising and
MIVAS for the majority of its total revenues; the Company's expectations
regarding demand for and market acceptance of its services; the Company's
expectations regarding the retention and strengthening of its relationships
with advertisers, partners and customers; fluctuations in the Company's
quarterly operating results; the Company's plans to enhance its user
experience, infrastructure and service offerings; the Company's reliance on
mobile operators in China to provide most of its MIVAS; changes by mobile
operators in China to their policies for MIVAS; competition in its industry in
China; and relevant government policies and regulations relating to the
Company. Further information regarding these and other risks is included in
the Company's filings with the SEC, including its registration statement on
Form F−1, as amended, and its annual report on Form 20−F. All information
provided in this press release and in the attachments is as of the date of
this press release, and Phoenix New Media does not undertake any obligation to
update any forward−looking statement, except as required under applicable law.

[1] MIVAS includes Internet VAS, which was previously a separate component of
    paid service.
    The Company recognized share-based compensation, net of estimated
    forfeiture rates,on a graded vesting basis over the vesting term. Total
[2] share-based compensation for the fourth quarter of 2012 was negative
    RMB2.1 million. Negative share-based compensation expenses incurred were
    due to managements' estimate adjustment of the forfeiture rate for the
    restricted share units granted.
    An explanation of the Company's non-GAAP financial measures is included in
    the section entitled "Use of Non-GAAP Financial Measures" below, and the
[3] related reconciliations to GAAP financial measures are presented in the
    accompanying "Reconciliations of Non-GAAP Results of Operation Measures to
    the Nearest Comparable GAAP Measures".
[4] "ADS" is American Depositary Share. Each ADS represents eight ordinary
    shares.



For investor and media inquiries please contact:

Phoenix New Media Limited
Matthew Zhao
Email: ir@ifeng.com 

ICR, Inc.
Jeremy Peruski
Tel: +1 (646) 405-4883
Email: Jeremy.peruski@icrinc.com

Phoenix New Media Limited
Unaudited Condensed Consolidated Balance Sheets
(Amounts in thousands)
                                      December31,  December31,  December31,
                                      2011          2012          2012
                                      RMB           RMB           US$
ASSETS
Current assets:
    Cash and cash equivalents           397,166       916,169        147,055
    Term deposits                       784,023       235,000        37,720
    Accounts receivable, net            202,097       280,987        45,102
    Amounts due from related parties    64,388        63,811         10,242
    Prepayment and other current        46,334        42,557         6,831
    assets
    Deferred tax assets                 11,931        17,504         2,810
    Total current assets                1,505,939     1,556,028      249,760
Non current assets:
    Property and equipment, net         41,012        102,547        16,460
    Intangible assets, net              5,415         9,488          1,523
    Other non-current assets            12,128        13,104         2,103
    Total non-current assets            58,555        125,139        20,086
Total assets                            1,564,494     1,681,167      269,846
LIABILITIES AND SHAREHOLDERS'
EQUITY
Current liabilities:
    Accounts payable                    120,910       154,637        24,821
    Amounts due to related parties      3,889         1,806          290
    Advances from customers             7,191         5,884          944
    Taxes payable                       35,822        40,156         6,445
    Salary and welfare payable          45,119        63,631         10,213
    Accrued expenses and                39,276        40,717         6,537
    othercurrent liabilities
    Total current liabilities           252,207       306,831        49,250
    Long-term liabilities               5,504         7,996          1,283
Total liabilities                       257,711       314,827        50,533
Shareholders' equity
    Ordinary shares                     42,054        41,628         6,682
    Additional paid-in capital          1,830,882     1,785,597      286,608
    Treasury stock                      -             (112)          (18)
    Statutory reserves                  24,647        31,985         5,134
    Accumulated deficit                 (555,831)     (455,810)      (73,163)
    Accumulated other comprehensive     (34,969)      (36,948)       (5,930)
    loss
    Total shareholders' equity          1,306,783     1,366,340      219,313
Total liabilities and shareholders'     1,564,494     1,681,167      269,846
equity



Phoenix New Media Limited
Unaudited Condensed Consolidated Statements of Operations
(Amounts in thousands, except for number of shares and per share data)
                                                   Three Months Ended                                      Twelve Months Ended
                                                   December 31,  September     December 31,  December 31,  December 31,  December 31,  December 31,
                                                                 30,
                                                   2011          2012          2012          2012          2011          2012          2012
                                                   RMB           RMB           RMB           US$          RMB           RMB           US$
Revenues:
 Net advertising revenues                          150,437       140,521       193,138       31,001        465,824       610,160       97,937
 Paid service revenues                             130,015       145,837       109,056       17,505        484,768       500,844       80,391
Total revenues                                      280,452       286,358       302,194       48,506        950,592       1,111,004     178,328
Cost of revenues                                    (164,236)     (173,887)     (165,075)     (26,496)      (554,676)     (631,299)     (101,330)
Gross profit                                        116,216       112,471       137,119       22,010        395,916       479,705       76,998
Operating expenses:
 Sales and marketing expenses                      (50,916)      (54,073)      (66,265)      (10,636)      (164,082)     (197,038)     (31,627)
 General and administrative expenses               (21,399)      (29,029)      (28,732)      (4,612)       (77,078)      (106,736)     (17,132)
Technologyandproductdevelopmentexpenses   (17,907)      (25,676)      (23,417)      (3,760)       (69,021)      (91,292)      (14,654)
Total operating expenses                            (90,222)      (108,778)     (118,414)     (19,008)      (310,181)     (395,066)     (63,413)
Income from operations                              25,994        3,693         18,705        3,002         85,735        84,639        13,585
Other income:
 Interest income                                   4,489         8,150         7,403         1,188         9,682         32,869        5,276
 Foreign currency exchange gain/(loss)             6,419         (1,976)       6,589         1,058         19,343        1,897         304
 Others, net                                       894           1,494         423           68            2,861         4,931         792
Net income before tax                               37,796        11,361        33,120        5,316         117,621       124,336       19,957
 Income taxes (expenses) /benefit                  (2,157)       181           (5,258)       (844)         (15,146)      (16,977)      (2,725)
Net income attributable to                          35,639        11,542        27,862        4,472         102,475       107,359       17,232
 Phoenix New Media
 Accretion to convertible redeemable preferred     -             -             -             -             (773,623)     -             -
 share redemption value
 Income allocation to participating preferred     -             -             -             -             (6,172)       -             -
shares
Net income/(loss) attributable to                   35,639        11,542        27,862        4,472         (677,320)     107,359       17,232
 ordinary shareholders
Net income/(loss) per ordinary share-basic          0.06          0.02          0.05          0.01          (1.30)        0.17          0.03
Net income/(loss) per ordinary share-diluted        0.06          0.02          0.04          0.01          (1.30)        0.17          0.03
Weighted average number of ordinary shares used     614,385,668   624,008,549   613,410,928   613,410,928   519,227,660   619,849,313   619,849,313
 in computing basic net income/(loss) per share
Weighted average number of ordinary shares used
 in computing diluted net income/(loss) per       647,306,037   645,376,189   632,217,567   632,217,567   519,227,660   643,748,146   643,748,146
share
Net income/(loss) per ADS-basic                     0.46          0.15          0.36          0.06          (10.44)       1.39          0.22
Net income/(loss) per ADS-diluted                   0.44          0.14          0.35          0.06          (10.44)       1.33          0.21
Weighted average number of ADS used in              76,798,209    78,001,069    76,676,366    76,676,366    64,903,458    77,481,164    77,481,164
 computing basic net income/(loss) per ADS
Weighted average number of ADS used in              80,913,255    80,672,024    79,027,196    79,027,196    64,903,458    80,468,518    80,468,518
 computing diluted net income/(loss) per ADS



Reconciliations of Non-GAAP Results of Operations Measures to The Nearest Comparables GAAP Measures
(Amounts in thousands, except for number of shares and per share data)
                                                   Three Months Ended December 31, 2011                   Three Months Ended September 30, 2012                 Three Months Ended December 31, 2012
                                                                 Non-GAAP                                               Non-GAAP                                              Non-GAAP
                                                   GAAP          Adjustments(1)             Non-GAAP      GAAP          Adjustments(1)            Non-GAAP      GAAP          Adjustments(1)             Non-GAAP
                                                   RMB           RMB  RMB           RMB           RMB  RMB           RMB           RMB  RMB
                                                   (Unaudited)   (Unaudited)                (Unaudited)   (Unaudited)   (Unaudited)               (Unaudited)   (Unaudited)   (Unaudited)                (Unaudited)
Gross profit                                       116,216       1,023                      117,239       112,471       554                       113,025       137,119       (1,082)                    136,037
Gross margin                                       41.4%                                    41.8%         39.3%                                   39.5%         45.4%                                    45.0%
Income from operations                             25,994        4,803                      30,797        3,693         2,561                     6,254         18,705        (2,092)                    16,613
Operating margin                                   9.3%                                     11.0%         1.3%                                    2.2%          6.2%                                     5.5%
Net income attributable to PNM                    35,639        4,803                      40,442        11,542        2,561                     14,103        27,862        (2,092)                    25,770
Net margin                                         12.7%                                    14.4%         4.0%                                    4.9%          9.2%                                     8.5%
Netincomeattributabletoordinaryshareholders  35,639        4,803                      40,442        11,542        2,561                     14,103        27,862        (2,092)                    25,770
Net income per ADS-diluted                         0.44                                     0.50          0.14                                    0.17          0.35                                     0.33
Weighted average number of ADS used in computing   80,913,255                               80,913,255    80,672,024                              80,672,024    79,027,196                               79,027,196
 diluted net income per ADS
(1) Non-GAAP adjustment is only to exclude share-based compensation expenses.
Details of cost of revenue is as follows:
                                                   Three Months Ended                                                   Twelve Months Ended
                                                   December31,  September30,              December31,  December31,  December31,              December31,  December31,
                                                   2011          2012                       2012          2012          2011                      2012          2012
                                                   RMB           RMB                        RMB           US$           RMB                       RMB           US$
(Amounts in thousands)                             (Unaudited)   (Unaudited)                (Unaudited)   (Unaudited)   (Unaudited)               (Unaudited)   (Unaudited)
Revenue sharing fees                               78,546        79,383                     47,284        7,590         285,960                   263,518       42,298
Content and operational costs                      53,385        60,109                     73,125        11,737        171,707                   227,934       36,585
Bandwidth costs                                    12,344        20,175                     19,020        3,053         37,462                    67,721        10,870
Sales tax and surcharges                           19,961        14,220                     25,646        4,116         59,547                    72,126        11,577
Total cost of revenue                              164,236       173,887                    165,075       26,496        554,676                   631,299       101,330







SOURCE Phoenix New Media Limited

Website: http://ir.ifeng.com
 
Press spacebar to pause and continue. Press esc to stop.