UPDATE 1-Focus Media Q2 results top Street view

* Q2 adj EPS $0.30 vs est $0.23

* Net revenue jumps 22 pct to $158.2 mln

* Shares rise 4 pct in extended trade

Aug 23 (Reuters) - Chinese outdoor advertising firm Focus Media Holding Ltd (FMCN.O) posted better-than-expected quarterly results, mainly helped by a surge in LCD display network services and internet advertising.

For the third quarter, the company expects revenue from its core business -- which consists of LCD display network, poster frame network and in-store network -- to be $120-$123 million. It forecast adjusted profit of $48-$49 million.

For the April-June quarter, net earnings attributable to Focus Media were $25.3 million, or 17 cents a share, compared with a loss of $23.0 million, or 18 cents a share, a year ago. Excluding items, earnings were 30 cents a share.

Net revenue rose 22 percent to $158.2 million. Revenue from the LCD display network rose 34 percent, while internet advertising services revenue jumped more than 40 percent.

Analysts on average were expecting earnings of 23 cents a share, excluding items, on revenue of $142.7 million, according to Thomson Reuters I/B/E/S.

Shares of Shanghai-based Focus Media were up 4 percent at $19.19 in after-market trade. The stock, which has doubled in value in the last 52 weeks, closed at $18.54 Monday on Nasdaq. (Reporting by Swati Chitnis in Bangalore; Editing by Anne Pallivathuckal)