Why Phoenix New Media Ltd. ADR Jumped on Tuesday

Why Phoenix New Media Ltd. ADR Jumped on Tuesday

Shares of media company Phoenix New Media (NYSE: FENG) jumped as much as much as 27.9% on Tuesday following the company's third-quarter earnings release. The stock is up 17.3% at the time of this writing.

Positive sentiment from investors on Tuesday is likely due to the company significantly outperforming consensus analyst estimates for the quarter.

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Source: Fool.com