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Leju Holdings Q1 loss widens 99.3% YOY

Leju Holdings Ltd. said its normalized net income for the first quarter was a loss of 6 cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.

The per-share loss increased 98.0% year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $8.4 million, compared with a loss of $4.2 million in the prior-year period.

The normalized profit margin dropped to negative 7.5% from negative 4.5% in the year-earlier period.

Total revenue rose 20.9% year over year to $113.0 million from $93.4 million, and total operating expenses grew 25.7% from the prior-year period to $126.8 million from $100.9 million.

Reported net income totaled a loss of $10.8 million, or a loss of 8 cents per share, compared to a loss of $5.4 million, or a loss of 4 cents per share, in the prior-year period.