Fang Holdings -3.2% after Q2 earnings [Seeking Alpha]
Fang Holdings Limited American Depositary Shares (Each representing Four Class A Ordinary Shares, HK$1.00 par value) (SFUN)
Last fang holdings limited american depositary shares (each representing four class a ordinary shares, hk$1.00 par value) earnings: 11/30 06:22 am
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ir.fang.com
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Source: Seeking Alpha
Fang Holdings -3.2% after Q2 earnings Fang Holdings (NYSE: SFUN off 3.2% missed profit expectations in Q2 The company swung to a net profit of $4.2M from a year-ago loss of $53.5M, and grew comparable revenues 6.8% to $67.6M thanks to gains in marketing services. Costs of revenue dropped to $8.3M from $8.4M, and operating expenses dropped by 53% to $30.3M, mainly due to a decrease in bad debt and staff costs. That brought a swing to operating profit of $29M vs. a year-ago loss of $9.6M. Revenue breakout: Marketing services, $32.5M (up 19.3%); Listing services, $19.2M (down 26%); Leads generation, $10.8M (up 290.2%); Financial services, $2.6M (down 3.2%). It still expects net income to be positive for the full fiscal year. Earnings call transcript Press release
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