Categories Earnings, Technology

58.com (NYSE: WUBA): Q4 2019 Earnings Snapshot

— 58.com Inc. (NYSE: WUBA), which operates online classifieds and listing platforms, reported adjusted earnings of $4.63 per ADS for the fourth quarter of 2019, versus $0.80 per ADS expected.

— Net income attributable to shareholders surged more than five-fold to RMB 2.61 billion or $374.1 million

Earnings Update by AlphaStreet

— Total revenues increased 15% annually to RMB 4.16 billion or $595.7 million, vs. $587.26 million expected

— Membership revenues were relatively flat, compared to last year, while online marketing services revenues advanced 19%

— There were around 3.3 million paying customers in the fourth quarter of 2019, up 4.2% year-over-year

— Expects first-quarter 2020 revenues to be between RMB 2.16 billion and RMB 2.26 billion, representing 25-29% year-over-year decrease

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