By Matt Grossman 



  58.com Inc. reported a first-quarter profit on Friday, including a significant share of income from the deconsolidation of a subsidiary. 


  The Beijing-based e-commerce company reported a profit in the latest quarter of 1.64 billion yuan ($231.3 million), or 10.82 yuan ($1.53) per American depositary share, compared with a profit of 698 million yuan, or 4.65 yuan per American depository share, for the same period last year. 


  Analysts had been expecting the company to report a loss of 1.28 yuan per American depository share, according to FactSet. 


  The company's revenue in the quarter was 2.56 billion yuan ($361.4 million), down from 3.03 billion yuan for the same period a year earlier. Analysts had forecast revenue of 2.24 billion yuan. 


  In the company's other-income category, it saw a 2.68-billion-yuan gain from the deconsolidation of 58 Daojia Ltd., a subsidiary of 58.com's 58 Home division. 


  Earlier this month, 58.com said it reached an agreement with Quantum Bloom Group Ltd. to go private in a deal that would value the company at $8.7 billion. 


  Write to Matt Grossman at matt.grossman@wsj.com