LONDON, UK / ACCESSWIRE / June 30, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Leju Holdings Ltd (NYSE: LEJU), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=LEJU, following the Company’s posting of its first quarter financial results on June 13, 2017. The leading online-to-offline (“O2O”) real estate services provider in China announced the departure of its CFO. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at: http://protraderdaily.com/register/.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on LEJU. With the links below you can directly download the report of your stock of interest free of charge at: http://protraderdaily.com/optin/?symbol=LEJU.
Earnings Reviewed
For the fiscal quarter ended March 31, 2017, Leju’s total revenues were $68.3 million, reflecting a drop of 40% from $113.0 million for Q1 2016, primarily due to decreases in ecommerce service revenue and listing service revenue as a result of restrictions placed by local governments. The Company’s revenue numbers came in ahead of analysts’ forecasts of $65.32 million.
During Q1 2017, Leju’s ecommerce service revenues decreased 56% on a y-o-y basis to $38.1 million from $86.1 million in Q1 2016, primarily due to decreases in both the number of discount coupons redeemed and in the average price per discount coupon. During the reported quarter, the Company generated ecommerce revenue from 52 cities, and ecommerce revenue contributed approximately 56% of its total revenue.
Leju’s revenues from online advertising services increased 18% to $25.8 million in Q1 2017 compared to $21.8 million in Q1 2016, primarily due to an increase in property developers’ online advertising demand as a result of new products launched. Online advertising contributed 38% of the Company’s total revenues this quarter.
For Q1 2017, Leju’s revenues from listing services totaled $4.4 million, down 14% from $5.1 million in Q1 2016, primarily due to a decrease in secondary home sales.
Leju’s Q1 2017 selling, general, and administrative expenses were $100.5 million, reflecting a decline of 11% from $113.3 million for Q1 2016, principally attributable to decreased marketing expenses related to the Company’s ecommerce business.
Leju’s cost of revenues were $14.1 million in Q1 2017, representing an increase of 4% from $13.6 million in Q1 2016, primarily due to increased cost of advertising resources purchased from SINA, partially offset by decreased staffing cost of the editorial department as a result of headcount change. The Company’s loss from operations was $46.3 million compared to $13.8 million for the prior year’s corresponding quarter, while its non-GAAP loss from operations was $41.8 million versus $7.4 million for Q1 2016.
Net loss attributable to Leju’s shareholders was $28.2 million, or $0.21 loss per diluted ADS, in Q1 2017 compared to $11.0 million, or $0.08 loss per diluted ADS, for Q1 2016. The Company’s non-GAAP net loss attributable to Leju’s shareholders was $24.2 million, or $0.18 loss per diluted ADS, in the reported quarter compared to $5.3 million, or $0.04 loss per diluted ADS, in the prior year’s same quarter. Leju’s results topped Wall Street’s expectations for a loss of $0.30 per ADS.
Cash Flow
As of March 31, 2017, Leju’s cash and cash equivalents balance was $219.8 million. During the reported quarter, net cash used in operating activities was $55.7 million, mainly attributable to non-GAAP net loss of $24.7 million, a decrease in accrued payable and welfare expenses of $8.4 million and a decrease in income tax payable and other tax payable of $26.3 million, partially offset by a decrease in customer deposit of $5.1 million.
Business Outlook
For Q2 2017, Leju estimates total revenues to be approximately $75 million to $80 million, which would represent a decrease of approximately 49% to 53% from $158.3 million in Q2 2016.
Management Changes
Leju announced that Min Chen has tendered her resignation from the position of the Company’s Chief Financial Officer, effective June 13, 2017, to pursue other career opportunities. Meanwhile, the Company announced that it has appointed Li-Lan Cheng as acting CFO and Michelle Yuan as deputy CFO, effective the same date.
Stock Performance
On Thursday, June 29, 2017, Leju Holdings’ stock closed the trading session at $1.90, slipping 4.52% from its previous closing price of $1.99. A total volume of 74.44 thousand shares were exchanged during the session. The stock currently has a market cap of $257.89 million.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: contact@protraderdaily.com
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily
ReleaseID: 467195
