51job, Inc. (JOBS) Tops Q2 EPS by 17c, Revenues Miss; Guides Q3 EPS/Revenue Outlook Below Consensus

51job, Inc. (NASDAQ: JOBS) reported Q2 EPS of $0.82, $0.17 better than the analyst estimate of $0.65. Revenue for the quarter came in at $135.3 million versus the consensus estimate of $138.76 million.

Second Quarter 2018 Financial Highlights:

• Total revenues increased 33.0% over Q2 2017 to RMB895.5 million (US$135.3 million), exceeding the Company\'s guidance range
• Online recruitment services revenues increased 32.5% over Q2 2017 to RMB588.4 million (US$88.9 million)
• Other human resource related revenues increased 34.0% over Q2 2017 to RMB307.1 million (US$46.4 million)
• Gross margin was 72.4% compared with 73.2% in Q2 2017
• Income from operations increased 16.0% over Q2 2017 to RMB218.1 million (US$33.0 million)
• Due to the significant impact of the loss from foreign currency translation and the change in fair value of convertible senior notes, fully diluted loss per share was RMB(0.92) (US$(0.14))
• Excluding share-based compensation expense, loss from foreign currency translation and change in fair value of convertible senior notes, as well as the related tax effect of these items, non-GAAP adjusted fully diluted earnings per share were RMB5.43 (US$0.82), exceeding the Company\'s guidance range

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "With clear focus and purpose, we continued to solidly execute our high-quality growth strategy. Our online business maintained an uptrend in revenue per employer as we successfully drove greater spending by existing, more sophisticated customers and worked through increased prices on certain entry-level online packages among new, smaller sized customers. We also saw positive customer demand for our other HR services which, combined with recruitment services, can provide employers with complete end-to-end talent management solutions. Demonstrating proven capabilities, dedicated coverage and industry expertise built over two decades, 51job is further cementing its leadership and remains uniquely positioned to capture all aspects of the HR opportunity in China."

GUIDANCE:

51job, Inc. sees Q3 2018 EPS of $0.56-$0.60, versus the consensus of $0.69. 51job, Inc. sees Q3 2018 revenue of $136.8-141.3 million, versus the consensus of $150.08 million.

For earnings history and earnings-related data on 51job, Inc. (JOBS) click here.

You May Also Be Interested In

• Tesla touts acceleration of new models, but Q1 results fall short of estimates
• West Fraser Timber Co. Ltd. (WFG) Tops Q1 EPS by 17c
• Eastgroup Properties (EGP) Tops Q1 EPS by 17c, provides guidance