58.com Turns To Profit In Q3 - Quick Facts

(RTTNews) - 58.com Inc. (WUBA) reported third-quarter net income to shareholders of $2.5 million, compared to a loss of $8.9 million, last year. Profit per share to ordinary shareholders was $0.05, compared to a loss per share of $0.20. Earnings per ADS attributable to ordinary shareholders was $0.10, compared to a loss per ADS of $0.40.

Non-GAAP net income was $9.3 million, compared to a loss of $5.9 million in the same quarter of 2012.

Total revenues were $41.6 million, a 77.6% increase from the same quarter of 2012.

Gross margin was 94.5% compared to 88.0%, a year ago. Operating income was $7.3 million, compared to a loss of $6.1 million, previous year .

For the fourth quarter of 2013, the company expects revenues to be between $41.0 million and $43.0 million, representing a year-over-year increase of 65.9% to 74.0%.