Fang Holding Turns To Profit In Q2

(RTTNews) - Fang Holdings Limited (SFUN) reported that its net income for the second quarter of 2019 was $4.2 million, compared to net loss of $53.5 million in the corresponding period of 2018.

Operating income from continuing operations was $29.0 million, compared to an operating loss from continuing operations of $9.6 million in the previous year.

Quarterly total revenues were $67.6 million, an increase of 6.8% from $63.3 million last year, mainly due to the increase in revenues from marketing services.

The company said it remains confident that net income is expected to be positive for the fiscal year ending December 31, 2019.