— 58.com Inc. (NYSE: WUBA) reported its third-quarter 2019 adjusted earnings of $0.96 per American Depositary Shares (ADS) versus $0.82 per ADS expected.
— Total revenues jumped by 17.4% to RMB4.26 billion ($602 million), exceeding the high end of the company’s guidance of RMB4.2 billion.
— The results were primarily driven by the increasing adoption and effectiveness of the company’s various online marketing services such as real-time bidding, priority listings and various other online marketing services.
— The total number of paying business users was about 3.6 million in the third quarter of 2019, a 3% increase from the same quarter of 2018.
— Looking ahead into the fourth quarter, total revenues are expected to be between RMB4.05 billion and RMB4.15 billion. This represents a year-over-year increase of 12% to 15% in the Renminbi.
— As of September 30, 2019, the company had cash and cash equivalents, term deposits, restricted cash and short-term investments of RMB9.49 billion ($1.34 billion).
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
