Shares of 58.com (NYSE: WUBA), a leading online marketplace operator in China, jumped on Monday following a strong second-quarter report. Surging revenue and soaring profits easily beat analyst expectations, and the company's guidance called for continued double-digit growth during the third quarter. At 11:15 a.m. EDT, the stock was up about 11.5%.58.com reported second-quarter revenue of 2,593 million renminbi, or $382.8 million, up 33.3% year over year and $45.6 million higher than the average analyst estimate.
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newsfeedback@fool.com (Timothy Green), The Motley Fool
Mon, 08/21/2017 - 9:34am
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