Leju Holdings (LEJU) Tops Q2 EPS by 8c, Revenues Beat; Offers 3Q Revenue Outlook Above Consensus

Leju Holdings (NYSE: LEJU) reported Q2 EPS of $0.02, $0.08 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $122.7 million versus the consensus estimate of $111.5 million.

• Total revenues increased by 32% year-on-year to $122.7 million. - Revenues from e-commerce services increased by 37% year-on-year to $87.6 million.- Revenues from online advertising services increased by 39% year-on-year to $34.4 million.
• Income from operations was $10.0 million, compared to loss from operations of $83.0 million for the same quarter of 2017. Non-GAAP[1] income from operations was $14.3 million, compared to non-GAAP loss from operations of $37.4 million for the same quarter of 2017.
• Net loss attributable to Leju Holdings Limited shareholders was $0.9 million, or $0.01 loss per diluted American depositary share ("ADS"), a decrease of 99% from $87.3 million, or $0.64 loss per diluted ADS, for the same quarter of 2017. Non-GAAP net income attributable to Leju Holdings Limited shareholders was $2.5 million, or $0.02 per diluted ADS, compared to non-GAAP net loss attributable to Leju Holdings Limited shareholders of $42.3 million, or $0.31 loss per diluted ADS, for the same quarter of 2017.

"Our online advertising and e-commerce businesses both continued their growth momentum in the second quarter of 2018," said Mr. Geoffrey He, Leju's Chief Executive Officer. "We're encouraged by our second quarter performance, especially the return to profitability as a result of both revenue growth and effective cost control. Despite continued policy tightening in China's real estate market, our strategy will remain focused on deepening penetration in lower-tier cities, improving operational efficiency and enhancing our media influence, with the aim to maintain profitability in the second half of this year."

GUIDANCE:

Leju Holdings sees Q3 2018 revenue of $120-130 million, versus the consensus of $111.8 million.

For earnings history and earnings-related data on Leju Holdings (LEJU) click here.

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