AirMedia Group shares up after revised Q2 guidance

AirMedia Group Inc. (Nasdaq:AMCN) shares jumped 14% Wednesday after the company’s anticipated 2008 second-quarter guidance was revised to $29 million to $30 million, up from earlier estimates of $26 million to $28 million. The China-based company creates air travel advertising and said it has had stronger-than-expected results in all its product lines.

AirMedia shares were at $15.36, up from Tuesday’s close of $13.47.

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