Tag Archives: wuba

Hot China Internet IPO 58.com Misses With Q3 Earnings

Highflying 58.com (WUBA) stock tumbled Wednesday after the China-based online classified ad provider reported its first quarterly results since making its IPO on Oct. 31. The Beijing-based company is the No. 1 online classifieds provider in China, similar to Craigslist in the U.S. The company reported Q3 earnings per share of 11 cents, 2 cents below consensus estimates of analysts polled by Thomson Reuters. It reported revenue of $41.6 million, up

Craigslist of China, 58.com, Gets Analyst Buy Rating

Pacific Crest Securities initiated coverage of China-based online classified ad provider 58.com (WUBA) on Tuesday with an outperform, or buy, rating, and the stock rose. The Beijing-based company was founded in 2005 and is the No. 1 online classified ad provider in China, similar to Craigslist. The company provides a market for individuals and businesses to list and acquire products and services. This includes listings for jobs, used goods, autos,