UPDATE 1-51Job quarterly profit beats Wall Street view
(Recasts; adds details, share movement)
Nov 12 (Reuters) - China's 51Job Inc (JOBS.O), which
publishes a weekly newspaper and a runs a namesake jobs
Website, posted a quarterly profit that beat analysts'
estimates, helped by strong growth in its print and online
businesses.
Shares of the Shanghai-based company rose about 3 percent in late electronic trade, after closing at $22.18 Monday on the Nasdaq.
Net income rose to $3.6 million, or 13 cents per American depositary share, on revenue of $29.4 million. Excluding items, 51Job posted earnings per ADS of 18 cents a share.
Analysts expected earnings of 12 cents per ADS, excluding items, on revenue of $27.6 million, according to Reuters Estimates.
Print advertising revenue rose 15.9 percent to $15.2 million, driven by an increase in the volume of advertisements. Online recruitment services revenue rose 26.8 percent to $9.7 million, as it had more employers using the Web site.
For the fourth quarter, the company forecast earnings, excluding items, of 13 cents to 15 cents per ADS on revenue of $27.4 million to $28.7 million. Analysts expect 10 cents per ADS on revenue of $26.2 million. (Reporting by John Tilak in Bangalore; Editing by Saumyadeb Chakrabarty)
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