58.com (WUBA) Tops Q1 EPS by 30c; Offers Strong Q2 Outlook

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Go back to 58.com (WUBA) Tops Q1 EPS by 30c; Offers Strong Q2 Outlook

58.com Reports First Quarter 2016 Unaudited Financial Results

June 1, 2016 8:00 PM EDT

BEIJING, June 1, 2016 /PRNewswire/ -- 58.com Inc. (NYSE: WUBA) ("58.com" or the "Company"), China's largest online market place serving local merchants and consumers, today reported its unaudited financial results for the first quarter ended March 31, 2016.

First Quarter 2016 Financial Highlights

Total revenues were US$231.3 million, a 165.6% increase from the same quarter last year; exceeding guidance of US$215 million to US$223 million. Gross margin was 89.5%, compared with 93.1% during the same quarter of 2015. Loss from operations was US$51.1 million, compared with... More