By Michael Dabaie
58.com Inc. (WUBA) ADRs were up 12%, to $56.36, in heavier-than-average volume late morning.
The Chinese online marketplace for classifieds reported third-quarter revenue was 4.26 billion yuan ($602.0 million), up from CNY3.63 billion in the same quarter of 2018. The company said this exceeded the high end of its guidance of CNY4.2 billion.
Total number of paying business users was about 3.6 million, up 3.0% from a year earlier.
Adjusted earnings per ADS was CNY6.76 (96 cents), up from CNY5.63 in the same quarter of 2018.
The company guided for fourth-quarter revenue of CNY4.05 billion to CNY4.15 billion.
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