EPS miss tanks 58.com; Q2 outlook above consensus

|About: 58.com Inc. (WUBA)|By:, SA News Editor

Though 58.com (WUBA -7%) beat Q1 revenue estimates, EPS of $0.03 was a penny below consensus. A 63.8% Y/Y increase in opex to $44.1M pressured the company's bottom line.

Q2 guidance is for revenue of $61M-$63M, above a $57.8M consensus.

Q1 membership revenue (57% of total revenue) rose 85% Y/Y, a pickup from Q4's 71% clip. Online marketing revenue (ads, 43% of revenue) soared 146.8% after growing 116% in Q4.

Paying merchant members rose another 48K Q/Q to 441K, and 51% of page views came from mobile platforms. The company claims it has been "steadily increasing [its] lead in traffic" over Chinese online classifieds rivals.

Q1 results, PR