Fang Holdings (SFUN) Misses Q1 EPS by 4c, Miss on Revenues

Fang Holdings (NYSE: SFUN) reported Q1 EPS of $0.00, $0.04 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $62.83 million versus the consensus estimate of $87.77 million.

First Quarter 2018 Highlights

• Total revenues were $62.8 million.
• Operating loss was $3.9 million. Non-GAAP operating income was $0.6 million. A description of the adjustments from GAAP to non-GAAP operating income is detailed in the Reconciliation Statement following this press release.
• Net loss attributable to Fang\'s shareholders was $44.9 million, which was primarily due to the change in fair value of equity securities of a loss of $42.2 million in accordance with new accounting pronouncement. Fully diluted loss per ADS was $0.10.
• Non-GAAP net income attributable to Fang's shareholders was $1.8 million. Non-GAAP fully diluted income per ADS were $0.00. A description of the adjustments from GAAP to non-GAAP net loss attributable to Fang's shareholders and fully diluted loss per ADS is detailed in the Reconciliation Statement following this press release.
• Adjusted EBITDA was $7.1 million. A description of the adjustments from GAAP net loss to Adjusted EBITDA is detailed in the Reconciliation Statement following this press release.

"The company is deepening its reform from business lines to full operations including financial management," commented Vincent Mo, Chairman and CEO of Fang. "We are fully committed to transforming and upgrading the company for future growth. The reform has been a bumpy process but I believe our endless efforts in increasing platform traffic, technology innovations and product upgrades will be rewarded in the near future."

For earnings history and earnings-related data on Fang Holdings (SFUN) click here.

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