We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fang Holdings Limited (SFUN - Free Report) reported second-quarter 2019 non-GAAP net loss of 2 cents per share. Total revenues came in at $67.6 million.
Revenues in Detail
Marketing services revenues of $32.5 million increased 19.3% from the year-ago quarter on the back of Fang's efforts in customer development.
Listing services revenues of $19.2 million decreased 26% due to lower number of paying members.
Revenues from leads generation services came in at $10.8 million compared with $2.8 million in the prior-year quarter on the back of increased effectiveness of service and customer development.
Revenues from value-added services came in at $1.7 million, up 19.9% from the prior-year quarter.
Financial services revenues of $2.6 million declined 3.2% from the year-ago quarter.
Revenues from e-commerce services decreased 75.7% year over year to $0.8 million.
Profitability Performance
Gross profit decreased 8% from the year-ago quarter to $59.3 million. Operating income from continuing operations came in at $29.0 million in the reported quarter against operating loss of $9.6 million in the prior-year quarter, owing to a decline in operating expenses.
Operating expenses of $30.3 million decreased 53% year over year due to lower bad debt and staff costs. Selling expenses of $16.1 million increased 12.5% year over year. General and administrative expenses decreased to $15.7 million from $50.7 million in the year-ago quarter due to a decline in bad debt and staff cost.
Fang Holdings Limited Price, Consensus and EPS Surprise
Fang Holdings exited second-quarter 2019 with cash and cash equivalents, restricted cash (current and non-current) and short-term investments of $500.6 million compared with $477.1 million at the end of the prior quarter. Long-term loan was $119.5 million compared with $122.47 million at the end of the prior quarter.
Some better-ranked stocks in the broader Zacks Business Services sector are Huron Consulting (HURN - Free Report) , Accenture (ACN - Free Report) and Fiserv , each carrying a Zacks Rank #2 (Buy). Long-term expected EPS (three to five years) growth rate for Huron Consulting, Accenture and Fiserv is 13.5%, 10.3% and 12%, respectively.
Legalizing THIS Could Be Even Bigger than Marijuana
Americans spend an estimated $150 billion in this industry every year… more than twice as much as they spend on marijuana.
Now that 8 states have fully-legalized it (with several more states following close behind), Zacks has identified 5 stocks that could soar in response to the powerful demand. One industry insider described the future as “mind-blowing” – and early investors can still get in ahead of the surge.
Image: Bigstock
Fang Holdings (SFUN) Reports Q2 Loss, Marketing Services Growth
Fang Holdings Limited (SFUN - Free Report) reported second-quarter 2019 non-GAAP net loss of 2 cents per share. Total revenues came in at $67.6 million.
Revenues in Detail
Marketing services revenues of $32.5 million increased 19.3% from the year-ago quarter on the back of Fang's efforts in customer development.
Listing services revenues of $19.2 million decreased 26% due to lower number of paying members.
Revenues from leads generation services came in at $10.8 million compared with $2.8 million in the prior-year quarter on the back of increased effectiveness of service and customer development.
Revenues from value-added services came in at $1.7 million, up 19.9% from the prior-year quarter.
Financial services revenues of $2.6 million declined 3.2% from the year-ago quarter.
Revenues from e-commerce services decreased 75.7% year over year to $0.8 million.
Profitability Performance
Gross profit decreased 8% from the year-ago quarter to $59.3 million. Operating income from continuing operations came in at $29.0 million in the reported quarter against operating loss of $9.6 million in the prior-year quarter, owing to a decline in operating expenses.
Operating expenses of $30.3 million decreased 53% year over year due to lower bad debt and staff costs. Selling expenses of $16.1 million increased 12.5% year over year. General and administrative expenses decreased to $15.7 million from $50.7 million in the year-ago quarter due to a decline in bad debt and staff cost.
Fang Holdings Limited Price, Consensus and EPS Surprise
Fang Holdings Limited price-consensus-eps-surprise-chart | Fang Holdings Limited Quote
Balance Sheet
Fang Holdings exited second-quarter 2019 with cash and cash equivalents, restricted cash (current and non-current) and short-term investments of $500.6 million compared with $477.1 million at the end of the prior quarter. Long-term loan was $119.5 million compared with $122.47 million at the end of the prior quarter.
Zacks Rank & Stocks to Consider
Currently, Fang Holdings carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Business Services sector are Huron Consulting (HURN - Free Report) , Accenture (ACN - Free Report) and Fiserv , each carrying a Zacks Rank #2 (Buy). Long-term expected EPS (three to five years) growth rate for Huron Consulting, Accenture and Fiserv is 13.5%, 10.3% and 12%, respectively.
Legalizing THIS Could Be Even Bigger than Marijuana
Americans spend an estimated $150 billion in this industry every year… more than twice as much as they spend on marijuana.
Now that 8 states have fully-legalized it (with several more states following close behind), Zacks has identified 5 stocks that could soar in response to the powerful demand. One industry insider described the future as “mind-blowing” – and early investors can still get in ahead of the surge.
See these 5 “sin stocks” now >>