Why Fang Holdings Ltd. Stock Skyrocketed Today [The Motley Fool]
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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Source: The Motley Fool
Shares of the Chinese real estate portal jumped despite a disappointing quarter. Here's what investors need to know. Steve Symington ( TMFSymington ) Mar 31, 2017 at 1:26PM What happened Shares of Fang Holdings Ltd. ( NYSE:SFUN ) were up 19.5% as of 1:20 p.m. EDT Friday after the Chinese online real estate portal announced weaker-than-expected fourth-quarter 2016 results, but revealed plans to return to an open-platform strategy going forward. So what Quarterly revenue fell 42% year over year, to $174.7 million, and translated to a net loss of $10.4 million, or $0.02 per American depositary share. Analysts, on average, were expecting a narrower net loss of $0.01 per share on revenue of $187.6 million. Image source: Getty Images. Fang Chairman and CEO Vincent Mo stated: I admit that our two-year long transformation is a failu
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