SouFang’s second-quarter net profit of $4.2 million was turned over year-on-year

According to the results, the total revenue of SouFun in the second quarter was $67.6 million, up 6.8% from $63.3 million in the same period last year, and its net profit was $4.2 million, which was a turnaround from $53.5 million in the same period last year.
According to foreign media reports, SouFang (NYSE Securities Code: SFUN) released its unaudited financial report for the second quarter up to 30 June 2019. According to the results, the total revenue of SouFun in the second quarter was $67.6 million, up 6.8% from $63.3 million in the same period last year, and its net profit was $4.2 million, which was a turnaround from $53.5 million in the same period last year.
Summary of second quarter performance:
SouFun’s total revenue in the second quarter was $67.6 million, up 6.8% from $63.3 million in the same period last year.
SouFun’s second quarter profit from continuing operations was $29 million, compared with an operating loss of $9.6 million from continuing operations in the same period last year.
SouFun’s net profit in the second quarter was $4.2 million, compared with a net loss of $53.5 million in the same period last year.
Highlights in the first half of 2019:
SouFun’s total revenue in the first half of the year was $102.6 million, down 8.7% from $123.3 million in the same period last year.
SouFun’s operating profit in the first half of the year was $17.2 million, compared with the operating loss of $2.2 million from the ongoing business in the same period last year.
SouFun made a net profit of $17.6 million in the first half of the year, compared with a net loss of $98.4 million in the same period last year.
Second Quarter Performance Analysis
revenue
SouFang’s total revenue in the second quarter was $67.6 million, up 6.8% from $63.3 million in the same period last year, mainly driven by the growth of marketing service revenue.
SouFun’s second quarter sales of marketing services amounted to $32.5 million, up 19.3% from $27.2 million in the same period last year, mainly driven by the efforts of SouFun’s customer development.
SouFun’s list service revenue in the second quarter was $19.2 million, up 290.2% from $2.8 million in the same period last year, mainly driven by improved service and customer development efficiency.
SouFun’s financial services revenue in the second quarter was $2.6 million, down 3.2% from $2.7 million in the same period last year.
Cost of Revenues
SouFun’s revenue cost in the second quarter was $8.3 million, compared with $8.4 million in the same period last year.
Operational Expenditure
SouFun’s operating expenditure in the second quarter was $30.3 million, down 53.0% from $64.5 million in the same period last year, mainly due to reduced bad debts and staff costs.
SouFun’s second quarter sales expenditure was $16.1 million, up 12.5% from $14.3 million in the same period last year.

  • SouFun’s general and administrative expenditure in the second quarter was $15.7 million, down 69.1% from $50.7 million in the same period last year, mainly due to reduced bad debts and staff costs.
    Operating Profit/Loss
    SouFun’s second quarter profit from continuing operations was $29 million, compared with an operating loss of $9.6 million from continuing operations in the same period last year.
    Changes in the Fair Value of Securities
    SouFun lost $48.5 million in fair value in the second quarter, compared with $82.9 million in the same period last year, mainly due to fluctuations in market prices of stock investments.
    Net profit/loss
    SouFun made a net profit of $4.2 million in the second quarter, compared with a net loss of $53.5 million in the same period last year.
    cash
    As of 30 June 2019, the total cash and cash equivalents, restricted cash and short-term investments held by SouFun amounted to $506.6 million, compared with $439.7 million as at 31 December 2018.
    First half performance analysis
    revenue
    SouFun’s total revenue in the first half of the year was $102.6 million, down 8.7% from $123.3 million in the same period last year.
    Sales revenue of SouFun in the first half of the year was $45.7 million, up 5.3% from $43.4 million in the same period last year, mainly driven by the efforts of SouFun customers’development.
    In the first half of the year, the revenue of list service was 31.4 million US dollars, down 29.7% from 44.6 million US dollars in the same period last year, mainly due to the decrease of list service payers.
    SouFun’s revenue in the first half of the year was $6.1 million, down 21.1% from $7.8 million in the same period last year.
    Cost of Revenues
    The revenue cost of SouFun in the first half of the year was $16.7 million, down 34.2% from $2540 in the same period last year, mainly due to cost savings in optimizing the core business of SouFun.
    Operational Expenditure
    SouFun’s operating expenditure in the first half of the year was $68.6 million, down 36.0% from $107.2 billion in the same period last year, mainly due to the reduction of bad debts and staff costs.
    SouFang’s annual sales expenditure in the first half of the year was $32.5 million, up 16.9% from $27.8 million in the same period last year.
    General and administrative expenditure for the first half of the year was $38.1 million, down 52.6% from $80.2 million in the same period last year, mainly due to the reduction of bad debts and staff costs.
    Operating Profit/Loss
    SouFun’s operating profit in the first half of the year was $17.2 million, compared with the operating loss of $2.2 million from the ongoing business in the same period last year.
    Changes in the Fair Value of Securities
    SouFun lost $16.5 million in fair value in the first half of the year, compared with $125.2 million in the same period last year, mainly due to fluctuations in market prices of stock investments.
    Net profit/loss
    SouFun made a net profit of $17.6 million in the first half of the year, compared with a net loss of $98.4 million in the same period last year.
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