SouFun Holdings Ltd. (NYSE: SFUN), operator of one of China’s leading classified real-estate sites, has posted its unaudited financial results for the third quarter of 2015.
In the three months that ended on September 30, total revenue increased by 30.4 percent year-on-year to $248.5 million U.S. The growth was primarily driven by the growth in revenue from e-commerce services, which increased by 111.0 percent year-on-year to $142.6 million. This was partially offset by the decline in revenue from marketing and listing services, previously the company’s core business.
The increase in revenue from e-commerce services was mainly due to the growth of the direct sales services for new homes and the growth of real-estate brokerage services for secondary homes, as well as the rapid growth of the home decorating services.
The company had an operating loss of $31.8 million, compared with its operating income of $70.7 million in the corresponding period in 2014. The non-GAAP operating loss was $30.6 million.
Net income attributable to SouFun’s shareholders was $1.4 million, compared to net income of $61 million for the corresponding period in 2014. The non-GAAP net loss attributable to SouFun’s shareholders was $31.9 million, a $0.08 loss per fully-diluted earnings ADS.
Gross merchandise value (GMV) increased by 56 percent from $6.8 billion in the second quarter of 2015 to $10.6 billion in the third quarter.
For more details see: http://ir.fang.com/phoenix.zhtml?c=233487&p=irol-newsArticle&ID=2113489

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