SouFun Q4 Beats Estimates
China-based real estate portal SouFun has beaten what the market expected in its Q4 and 2012 results. For the quarter, the company took in $148 million in revenue, which was just under 30% higher than the same period the previous year. Non-GAAP net income grew 66% to $65 million ($0.79 per diluted share). Both results handily beat the average analyst expectations of $138 million on the top line and $0.62 in EPS.
For fiscal 2012, revenue advanced 25% on a year-over-year basis to $430 million. Net income grew by 41% to $174 million ($2.13 diluted EPS).
Looking forward, SouFun said that it expects fiscal 2013 revenue to come in at approximately $520 million. The company did not provide any profit forecasts.
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