Dallas, Texas 11/18/2013 (Financialstrend) – In Friday’s trading session, Phoenix New Media Ltd ADR (NYSE:FENG) rose by 13.97%. The shares opened at a price of $9.85, which touched the intraday high of $10.38 and headed to a close of $10.36. Around 3.81 million exchanged hands over the trading day and an average volume of 1.45 million shares were traded over a 30 day period. The 52-week low of Phoenix New Media Ltd ADR (NYSE:FENG) shares is $2.88 and its 52-week high is $13.38. The company has a market capitalization of $789.62 million.
About the company
Phoenix New Media Ltd ADR (NYSE:FENG) was formed on 22 November 2007. It is a new media-company that provides content on an integrate- platform across the Internet, mobile & television channels in China. PNM allows consumers to access the professional news & other content &share user-generated content, via the Internet & via their mobile-devices. It also transmits the UGC & in-house produced-content to TV viewers mainly through Phoenix TV. Phoenix New Media Ltd ADR (NYSE:FENG)’s platform includes the ifeng.com channel. This is made up f its ifeng.com Website, the video channel, made up of its dedicated video -vertical and video-services & applications. It also covers its mobile channel. This includes its mobile-Internet Website & mobile applications.
PNM offers a range of paid-services across all the channels, including mobile-Internet & value-added services. This includes its digital-reading services, mobile-game services and wireless-value-added services like messaging-based services sms & mms, video value-added-services (video VAS). This is made up of its online subscription & pay-per-view video services. It also includes the company’s mobile subscription &pay-per-view video services, & video-content sales & Internet value-added services . Phoenix New Media Ltd ADR (NYSE:FENG) mainly generates its paid-service revenues from the WVAS, digital 0reading services & mobile video-subscription & pay-per-view services by providing varied content to mobile-device users & collecting revenue-shares or fixed-fees for its content-services from the relevant mobile-operator.