58.com soars to new highs on Q4 beat, strong guidance

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

58.com (WUBA +10.2%) reports Q4 revenue of $45.3M +83.2% Y/Y and beating consensus by $3.3M. EPS of $0.13 beat by $0.08.

In addition, the Chinese online classifieds leader is guiding for Q1 revenue of $43M-$45M, above a $40.8M consensus.

Q4 membership revenue +71% Y/Y to $26M, with paying merchants rising 11% Q/Q and 72% Y/Y to 393K. Online marketing revenue +116% to $8.8M (bidding services and priority listing growth).

Gross margin +90 bps Q/Q and +630 bps Y/Y to 95.4%. Y/Y opex growth of 30.8% was well below rev. growth; sales/marketing spend +35%, R&D +17%, G&A +34%.

Shares are up 171% from an October IPO price of $17.