#58.com

58.com (NYSE: WUBA): Q3 2019 Earnings Snapshot

— 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…

Royal Bank of Canada (RY:TSE) and Sempra Energy (SRE:NYS) Downgraded

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Earnings Reaction History: 58.com Inc, 33.3% Follow-Through Indicator, 7.6% Sensitive

Shutterstock photo Expected Earnings Release: 08/21/2017, Premarket Avg. Extended-Hours Dollar Volume: $ 2,093,605 58.com Inc ( WUBA ) is due to issue its quarterly earnings report in the upcoming extended-hours session. Given its history, traders can expect light trading in the issue immediately following its quarterly earnings announcement. Historical earnings event rel… Latest Articles in

Acquisition creates China’s largest secondary and rental real estate platform

58.com Inc., the Chinese equivalent of Craigslist Inc. backed by Internet giant Tencent Holdings Ltd. , said Monday it had acquired an online real estate listing site for about $267 million, the latest deal in China’s fast-growing market for services that connect online users with traditional local offline businesses.

Beijing-based 58.com, which provides users with local information such as job postings and rentals, said that it had bought a 100% stake in Shanghai-based Anjuke, whose website and app allow users to search for real estate properties.

As 58.com’s current services already include real estate listings, the acquisition creates China’s largest secondary and rental real estate platform, 58.com Chief Executive Michael Jinbo Yao said in a statement.

Tencent, whose main businesses are social networks and online games, bought a roughly 20% stake in 58.com in June last year and integrated its services into its WeChat and QQ messaging services. Last year, Tencent also bought a 15% stake in a Chinese online real estate services company called Leju Holdings Ltd.