SouFun increases 3Q revenue by 17% over 2011 quarter
Nov 12, 2012 (TELECOMWORLDWIRE via COMTEX) --
SouFun Holdings Ltd. (NYSE: SFUN) reported total revenue of $127.2 million for the third quarter of 2012, representing an increase of 17.1% from the corresponding period in 2011.
Revenue from marketing services was $79.7 million for the third quarter of 2012, a slight decrease of 2.4% from the corresponding period in 2011, due primarily to an offset by the rapid growth of SouFun membership services which has been mainly tested in Beijing, Shanghai and ten other major cities in China.
Revenue from listing services was $20.3 million for the third quarter of 2012, an increase of 23.6% from the corresponding period in 2011 primarily due to the general recovery in the secondary real estate market and new revenue from SouFun Online Shop which has been testing mainly in ten major cities in China, including Beijing and Shanghai.
Revenue from e-commerce services was $25.6 million for the third quarter of 2012, a substantial increase from $9.5 million for the same period in 2011 due to the increasing market acceptance of SouFun membership services. We began offering paid SouFun membership services to property buyers to facilitate their transactions with property developers from the second quarter of 2011.
Revenue from other value-added services and products was $1.6 million for the third quarter of 2012, an increase of 61.3% from the corresponding period in 2011.
SouFun operates the leading real estate Internet portal and home furnishing and improvement website in China in terms of the number of page views and visitors to its website in 2012. The company's website is at http://ir.soufun.com.
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