58.com Q4 Profit Plunges, Guides Q1 Revenue Above View - Quick Facts

(RTTNews) - 58.com, Inc. (WUBA) reported fourth-quarter net income to ordinary shareholders declined to $3.21 million or $0.04 per ADS, compared to $8.38 million or $0.13 per ADS for the year-ago quarter.

Excluding items, adjusted net income for the quarter was $5.22 million or $0.06 per ADS, compared to $11.71 million or $0.14 per ADS in the prior-year quarter.

Total revenues for the quarter surged 77.2 percent to $80.22 million from $45.28 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.12 per share on revenue of $76.80 million for the quarter.

Looking ahead to the first quarter, the company expects total revenues between $82.0 million and $84.0 million, representing a year-over-year increase of 70.0 to 74.1 percent. Analysts currently expect the company to post revenue of $78.50 million for the quarter.