Fang Holdings (SFUN) Reports Q3 EPS of $0.01

Fang Holdings (NYSE: SFUN) reported Q3 EPS of $0.01, versus $0.03 reported last year. Revenue for the quarter came in at $67.6 million versus the consensus estimate of $67.56 million.

Third Quarter 2019 Highlights

• Total revenues were $67.6 million, an increase of 11.8% from $60.4 million in the corresponding period of 2018.
• Operating income from continuing operations was $26.7 million, an increase of 164.8% from $10.1 million in the corresponding period of 2018.
• Net income was $0.7 million, a decrease of 92.8% from $10.2 million in the corresponding period of 2018.

"Our marketing and leads generation services continued to generate growth for our business," commented Mr. Jian Liu, CEO of Fang. "The main drivers behind this growth are our emphasis on new technology and data-driven applications. We are optimistic for the remainder of the year as well as next year, as we continue our focus on the core internet marketing, listing, and leads generation business lines."

Business Outlook

Based on current operations and market conditions, Fang's management remains confident that net income is expected to be positive for the fiscal year ending December 31, 2019. This estimate represents management's current and preliminary view, which is subject to change.

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

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