AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP), a Chinese digital mapping and auto navigation company today stated that its earning during the 2nd quarter grew as demand across all three of its key businesses increased.
The company’s earnings went up by 54% to $9.6 million, or 5 cents per share from $6.2 million, or 4 cents per share, earned during the same period in the previous year.
The company’s profit after excluding the stock-option expenses and other items came at 21 cents per share in the recent quarter, Ahead of the analysts estimates of 18 cents a share.
The company’s revenue went up by 49% to $33.6 million from $22.6 million, well ahead of analyst projections of $29.5 million.
The company expects to generate a revenue of $122 million to $125 million, topped analysts’ estimates of $119 million.
Shares of AutoNavi Holdings Ltd (ADR) surged 2.30% to $16.10 with more than 199K shares traded hands, compared to its average volume of 155K shares.
AutoNavi Holdings Limited (AutoNavi) through its subsidiaries is primarily engaged in providing digital map content, navigation and location-based solutions in the People’s Republic of China. Its core business is a nationwide digital map database that covers approximately 2.8 million kilometers of roadway and over 12.5 million points of interest across China.
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