Fang Holdings (SFUN) Reports Q4 Loss of $0.29, Revenues Miss; 'Management Predicts Positive Net Income' for FY20

Fang Holdings (NYSE: SFUN) reported Q4 EPS of ($0.29), versus ($0.41) reported last year. Revenue for the quarter came in at $49.32 million versus the consensus estimate of $67.56 million.

Fourth Quarter 2019 Highlights

• Total revenues were $49.3 million, a decrease of 26.7% from $67.3 million in the corresponding period of 2018.
• Operating loss from continuing operations was $21.0 million, compared to an operating income from continuing operations of $21.1 million in the corresponding period of 2018.
• Net loss was $26.2 million, compared to a net loss of $29.4 million in the corresponding period of 2018.

"In 2019, we had challenges but also achievements," commented Mr. Jian Liu, CEO of Fang. "For the year of 2020, challenges and opportunities co-exist because of the potential effects of COVID-19. I believe our new initiatives, including online live broadcastings, online exhibitions and VR live, will be strong drivers of our business."

Business Outlook

Based on current operations and market conditions, Fang's management predicts a positive net income for the year of 2020, which represents management's current and preliminary view and is subject to change.

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

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