SouFun Holdings Ltd. (NYSE:SFUN) 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.
SouFun Holdings Ltd. Earnings Cheat Sheet
Results: Net income increased 66% to $65.1 million (79 cents per diluted share) in the quarter.
Revenue: Increased 29.6% to $147.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: SouFun Holdings Ltd. reported adjusted net income of 79 cents per share. By that measure, the company beat the mean analyst estimate of $0.62. It beat the average revenue estimate of $138.29 million.
Quoting Management: “Again we delivered strong results for the fourth quarter and the whole year, despite tough market conditions we experienced in the first half of the year,” said Vincent Mo, Executive Chairman of SouFun. “Our unwavering focus on SouFun’s existing marketing services and its derivative, SouFun membership services, and our listing services allowed us to build a solid foundation to grow our business. Our ability to continuously innovate and successfully create new services, such as SouFun membership services and SouFun Online Shop, will enable SouFun to capture new growth opportunities and enhance its leadership in China’s home related internet sector. We are confident that we will continue to grow at a healthy pace in both top-line and bottom-line in 2013.”
Key Stats (on next page)…