SouFun sales, profit soar in Q1

Investor's Business Daily

The leading Chinese portal for real estate, and home furnishings and improvements websites said Q1 sales climbed 56% to $91.03 mil, topping estimates of $76.5 mil. EPS more than doubled to 38 cents from 16 cents last year, beating by 12 cents. SouFun (SFUN) said its results were primarily driven by the growth in SouFun membership services and listing services. Real estate listings revenue increased 145% to $26.8 mil, the company said. Shares fell 3.3% to 25.30.

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