E-House Holdings Limited Earnings: Here’s Why the Stock is Rising 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 up 26.78%.
E-House Holdings Limited Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 83.33% to $0.11 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Rose 43.16% to $163.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: E-House Holdings Limited reported adjusted EPS income of $0.11 per share. By that measure, the company beat the mean analyst estimate of $0.06. It beat the average revenue estimate of $135.77 million.
Quoting Management: Xin Zhou, co-chairman and CEO of E-House said, “I’m very pleased with our second quarter and first half 2013 performance. In addition to delivering solid results, we achieved several new milestones during the first half of the year, including upgrading our e-commerce platform, launching a new mobile real estate application, developing the CRIC Home Price series of products and establishing a cloud-based customer-origination call center. Particularly worth mentioning is that our e-commerce platform has finally matured after two years of investment and improvement efforts. The upgraded 3.0 version of our e-commerce platform which we began marketing to clients on June 18, is now a truly open real estate transaction-facilitating platform that developers can use with or without our other online services, and has already been widely adopted by many new and existing clients. As of August 15, we have signed 986 e-commerce service contracts with our developer clients.”
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