Profit jumped 383% at a global media company based in Beijing. Is this the exciting final chapter of the China growth story or is there more to come?
Chinese media company Sohu.com posted a nearly fivefold surge in quarterly profit on Monday that exceeded analysts' forecasts, and the company predicted stronger results for the rest of the year.
"Looking ahead at the remainder of 2008, we believe the growth of our brand advertising business will be even stronger," Sohu Co-President Belinda Wang said in a statement. The bullish outlook reflects rising Olympic ad spending and Sohu's growing penetration in the online market, she said.
Sohu and Baiduare both turning in exciting results, says Tim Seymour, Fast Money's favorite emerging markets specialst. They both should continue to perform for some time to come and are well worth a look!
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Trader disclosure: On Apr. 28, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (MSFT), (DIS), (INTC), (ATVI); Seymour Owns (AAPL), (EEM), (F), (HAL), (INTC), (MSFT), (TSO), (DUG); Seygem Asset Management Owns (GFA), (PBR); Finerman's Firm And Finerman Own (FLS), (HD), (KALU); Finerman's Firm Owns (MSFT), (NOK), (SUN), (TSO), (VLO); Finerman's Firm Owns A Bullish Call Spread In (YHOO) And Owns (YHOO) Stock; Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY), (COF); Finerman's Firm Is Short The British Pound; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC