Internet classifieds company 58.com (WUBA) early Thursday missed Wall Street’s earnings expectations in a mixed Q1 report, sending the stock lower. 58.com was down 8% in morning trading in the stock market today. The Beijing company swung to a 3-cent per-share profit excluding items from a 33-cent per-share loss in the year-earlier period. That nonetheless missed views by a penny, according to analysts polled by Thomson Reuters. Revenue climbed
Known as the Craigslist of China, 58.com (WUBA) is slated to report first-quarter earnings before the market open Thursday. 58.com stock rose 1.6% on Monday, to 38.78. 58.com launched its IPO on Oct. 31, priced at 17 and rose 42% on its first day, raising $187 million. The consensus estimate among analysts polled by Thomson Reuters is for Q1 earnings per share minus items of 4 cents, swinging from a 5-cent loss in the year-earlier quarter. That
Despite positive analyst research on 58.com (WUBA), the Chinese new issue was down another 2% in late-session trading Friday, following a big decline Wednesday. The Beijing-based company runs an online classified ads marketplace, similar to Craigslist in the U.S. It made its U.S. IPO on Oct. 31, raising $187 million. The stock priced at $17, jumped 42% its first day to 24.12 and peaked on Nov. 22 at 38.70. In the stock market today, 58.com stock