E-House Holdings Limited Earnings: Here’s Why Investors are Happy Now
E-House Holdings Limited (NYSE:EJ) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0%.
E-House Holdings Limited Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.03 in the quarter versus EPS of $-0.21 in the year-earlier quarter.
Revenue: Rose 92.28% to $116.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: E-House Holdings Limited reported adjusted EPS income of $0.03 per share. By that measure, the company beat the mean analyst estimate of $-0.12. It beat the average revenue estimate of $90.78 million.
Quoting Management: Xin Zhou, co-chairman and CEO of E-House said, “E-House adjusted its strategies and cost structure amid real estate market fluctuations in the past two years, resulting in a more focused and streamlined business that is better able to adapt to changing market conditions. During the first quarter of 2013, two of our main business components, our primary agency business and our online real estate advertising and e-commerce business, saw significant growth of over 170% and nearly 90%, respectively. On top of the strong gains in traditional online advertising, our real estate e-commerce business has become an important growth driver for the online segment. If last year’s first quarter represented the nadir for E-House’s business, we believe the first quarter of 2013 signified a clear turn-around of our business and formed a solid base for our overall growth this year.”
Key Stats (on next page)…