Shares of Linktone Ltd. (LTON) Pop 20% on Strength of Q2 Results
Linktone Ltd. (LTON), a provider of wireless interactive entertainment and advertising in China, reported second quarter 2008 financial results yesterday afternoon. Investors cheered the news by sending LTON shares 20% higher today, or $0.30, to close at $1.80 on five times normal trading volume. Revenues for the second quarter rose 63% year-over-year to $19.1 million. On a sequential basis, revenues fell 7% from $20.5 million in the first quarter. GAAP net loss swelled to $10.6 million, or 26 cents per ADS, compared to a net loss of $3.2 million, or 13 cents per ADS, for the same period in 2007.…