Leju Holdings (LEJU) Reports Q4 EPS of $0.06, Revenues Beat; Offers FY21 Revenues Outlook

Leju Holdings (NYSE: LEJU) reported Q4 EPS of $0.06, versus $0.06 reported last year. Revenue for the quarter came in at $230.4 million versus the consensus estimate of $233.4 million.

Fourth Quarter 2020 Financial Highlights

• Total revenues increased by 2% year-on-year to $230.4 million. - Revenues from online advertising services increased by 43% year-on-year to $60.1 million. - Revenues from e-commerce services decreased by 8% year-on-year to $170.1 million.
• Income from operations was $10.1 million, an increase of 12% from $9.0 million for the same quarter of 2019.
• Non-GAAP income from operations was $13.4 million, a decrease of 4% from $14.0 million for the same quarter of 2019.
• Net income attributable to Leju Holdings Limited shareholders was $6.1 million, or $0.04 per diluted American depositary share ("ADS"), an increase of 36% from $4.5 million, or $0.03 per diluted ADS, for the same quarter of 2019.
• Non-GAAP[1] net income attributable to Leju Holdings Limited shareholders was $8.8 million, or $0.06 per diluted ADS, compared to $8.7 million, or $0.06 per diluted ADS, for the same quarter of 2019.

"China's new housing market experienced mild growth in transactions for the full year 2020, as a sharp decline at the beginning of the year due to the Covid-19 epidemic was followed by a substantial recovery later in the year," said Mr. Geoffrey He, Leju's Chief Executive Officer. "As developers increasingly recognized the importance of digital marketing, Leju's online advertising services saw strong growth, while our e-commerce services turned in a steady performance. In the fourth quarter of 2020, Leju held a series of successful online promotions that further enhanced our brand recognition and boosted our media influence. In 2020, we held a total of eight well-received promotional events, kicking off with our 'Online Sales Office' during the Chinese Spring Festival. These activities helped to take our advertising services to the next level, supported steady growth for our e-commerce services, and significantly improved our industry coverage and overall service level."

"In 2021, leveraging our strategic cooperation between Alibaba and E-House, Leju will seize new opportunities in digital marketing, roll out new advertising and e-commerce services, and ramp up our business scale. We will continue to optimize our operations and management, increase our efforts in attracting top talent, improve management and operational efficiency, and increase profit margins to provide a solid foundation for Leju's future growth."

GUIDANCE:

Leju Holdings sees FY2021 revenue of $755-790 million, versus the consensus of $780.7 million.

Business Outlook

The Company estimates that its total revenues of 2021 will be approximately $755 million to $790 million, which would represent an increase of approximately 5% to 10% from $719.5 million for 2020. This forecast reflects the Company's current and preliminary view, which is subject to change.

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

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