Boston, MA 08/21/2014 (wallstreetpr) – Leju Holdings Ltd (ADR) (NYSE:LEJU) announced its unaudited financial results for the second quarter 2014. The total revenues came at $117.4 million, up 63% year-over-year. The e-commerce services revenues came at $68.3 million, up 159% year-on-year. The online advertising revenues came higher at $44.8 million, up 11% year-over-year. The listing services revenues showed a decline of 15% YOY to come at $4.2 million. The non-GAAP income rose 83% to $24.1 million comparable to $13.2 million in the prior-year quarter.
The financial highlights for first half 2014
The revenues of Leju Holdings Ltd (ADR) (NYSE:LEJU) in the first half of 2014 came at $195.9 million, up 75% year-on-year. The e-commerce services revenues came at $118.0 million, up 188% year-on-year. The online advertising revenues came at $69.4 million, up 12% year-on-year. The listing services revenues rose 1% to $8.5 million in the first half 2014. The non-GAAP income resulting from operations rose 208% to $32.5 million comparable to $10.6 million in 1H2013.
The management view
Mr. Geoffrey He, the CEO of Leju, stated that Leju delivered the strong set of financial numbers in the second quarters. There were problems in the industry but still Leju managed to overcome them. The focus of Leju Holdings Ltd (ADR) (NYSE:LEJU) remains on implementing the mobile strategy. It is the tool that is helping Leju to meet the new market demands. The Weixin Home promotion started in June was a huge success.
Leju Holdings Ltd (ADR) (NYSE:LEJU) has got plans to use its mobile products both listing services and e-commerce segment to enhance the interaction with customers. The main emphasis of Leju will be on product innovation and O2O services. The real estate market was slow in China, which forced the government to loosen the restrictive policies. It can ease further in the near future helping the companies. Also, the pricing flexibility and the enhanced marketing efforts will have a positive impact on the real estate industry.