SouFun Q3 Beats on Revenue, EPS

By Eric Volkman – Nov 8, 2013 at 11:27PM

NYSE: SFUN

Fang Holdings Ltd.

Comprehensive net income more than doubles, while top line rises nearly 46% on a year-over-year basis.

SouFun Holdings (SFUN) shares saw a nice boost today following the release of the Chinese real estate portal operator's Q3 results. For the quarter, revenue was $185 million, or almost 46% higher than the $127 million in the same period the previous year. Comprehensive net income more than doubled, landing at $106 million ($1.22 per diluted share) from the $49 million ($0.61) of Q3 2012.

Those numbers were significantly higher than analyst expectations of $173 million for revenue, and $0.89 for EPS.

SouFun also raised its total revenue guidance for fiscal 2013. It now believes top line will come in at $605 million to $615 million. It had previously projected $538 million to $548 million.

The firm's stock closed up by 11.3%, or $5.79, to $57.19 in trading today.

Fool contributor Eric Volkman has no position in SouFun. Nor does The Motley Fool. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.