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Fang Holdings (SFUN) Reports Q2 Loss, Marketing Services Growth

Fang Holdings Limited SFUN 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.

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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 and EPS Surprise
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, Accenture ACN and Fiserv FISV, 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.

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Fang Holdings Limited (SFUN) : Free Stock Analysis Report
 
Huron Consulting Group Inc. (HURN) : Free Stock Analysis Report
 
Accenture PLC (ACN) : Free Stock Analysis Report
 
Fiserv, Inc. (FISV) : Free Stock Analysis Report
 
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