Off the wire
• China's national lawmakers total 2,943  • Interview: Former Austrian vice-chancellor urges EU-wide efforts to tackle refugee crisis  • Internet regulator urges ethics on posting 'rumors'  • Former Malaysian Deputy PM suspended as ruling party's duty president  • EU launches action plan to tackle wildlife trafficking  • Palestinian journalist held by Israel ends 3-month hunger strike  • Refugee, migrants maritime arrivals in Europe surpass 120,000 in 2016  • South China drugs gang busted  • Chinese culture showcased in Vancouver variety show  • Two firms fined for stock market malpractice  
You are here: 　 Home

58.com reports 170 pct growth in 2015 revenue

Xinhua, February 26, 2016 Adjust font size:

Chinese online classified company 58.com said Friday that its revenue last year soared 170 percent to 714.9 million U.S. dollars.

The New York-listed company reversed a loss of 288.9 million U.S. dollars in 2015 from a net income of 22.6 million U.S. dollars in 2014.

In the fourth quarter, revenue surged 218.3 percent to 255.3 million U.S. dollars. It reported a loss of 3.6 million U.S. dollars, compared to net income of 3.2 million U.S. dollars the same quarter a year ago.

"We are pleased to have finished the year with a strong fourth quarter in which we beat our best estimates," said Michael Yao, chairman and CEO of 58.com. "Twelve months ago we only had the 58.com platform, but have since strengthened and consolidated our platform to include Ganji, Anjuke and China HR."

Hao Zhou, CEO of 58.com, said while Guazi -- the company's property and used car platform -- continued losses in the early stages of expansion, the core business is already profitable.

Membership revenue totaled 297 million U.S. dollars, up 113 percent. Online marketing service revenue was 386 million U.S. dollars, up 208 percent.

58.com expects its revenue for the first quarter of 2016 to be between 215 and 223 million U.S. dollars. Endi