If you think Chinese stocks are heading higher, put your money where your mouth is.
CFO may have stumbled last year, but it's back on track these days.
Last night's second-quarter results were solid. Revenue climbed 24% to $15.3 million, ahead of the 18% spurt that analysts were expecting. After scaring away investors with red ink last year, CFO came through with its second consecutive profitable quarter.
There are now 16.8 million registered users across CFO's websites, 36% ahead of where it was a year ago. It's hoping to hit 20 million users by the end of the year. These are big numbers, but they aren't as important as the subscriber count -- since CFO makes a lot more on premium memberships than it does through online advertising.
CFO is now watching over 139,800 subs, 27% ahead of where it was a year ago and 8% higher sequentially.
Compared to stateside slackers, CFO is a speedster. TheStreet.com
The rub with CFO is that while it's raising its 2010 guidance on the bottom line -- expecting its adjusted profit to exceed $4 million -- it's sticking to its projected range of $56 million to $62 million in revenue. After ringing up $30.5 million through the first half of the year, the midpoint of CFO's range implies a slightly softer second half.
We'll have to see how that plays out, because it's been striking plenty of deals to host investing forums and growing its brokerage business. Last year it teamed up with China Unicom
It would be a surprise if CFO didn't raise its revenue guidance later this year, or at least tighten it toward the higher end of that range.
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Longtime Fool contributor Rick Munarriz is a fan of China's growth story but he does not own shares in any of the companies in this story. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.