Chinese media and advertising company Xinhua Finance Media Limited (Nasdaq: XFML) announced third quarter 2007 earnings with net revenue of US$40.7 million, up 41 percent quarter-on-quarter and 118 percent year-on-year, after market close on Tuesday. XFMedia had a net income of US$9 million in the period increasing from $0.8 million in the year-ago period and $2.3 million in the second quarter. Net revenue for XFMedia's Advertising Group grew 99 percent year-on-year and 48 percent quarter-on-quarter to $22.6 million. The company's mobile services business recorded net revenue of $3.3 million, increasing from $0.7 million when the business was acquired in the second quarter of 2007. XFMedia attributes the mobile services revenue increase, in part, to its full quarter consolidation of Beijing Mobile Interactive Co., Ltd., which the company acquired in June. XFMedia expects fourth quarter earnings to come in between US$42 million and $47 million.