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TheStreet Open House

SouFun Announces Second Quarter And First-Half 2011 Results And Other Matters

SouFun Holdings Limited (NYSE: SFUN, “ SouFun” or the “ Company”), the leading real estate and home furnishing Internet portal in China, today announced its unaudited financial results for the second quarter and half year ended June 30, 2011.

Second Quarter 2011 Highlights

  • Revenues grew 93.0% to US$80.6 million compared to the second quarter of 2010, and a 117.0% year-over-year increase excluding the effect from prepaid card business.
  • Operating income was US$36.9 million, an increase of 305.3% compared to the second quarter of 2010. Non-GAAP operating income was US$38.3 million, an increase of 245.0% compared to the second quarter of 2010.
  • Net income attributable to shareholders was US$22.9 million, an increase of 681.0% compared to the second quarter of 2010. Non-GAAP net income attributable to shareholders was US$32.0 million, an increase of 283.3% compared to the second quarter of 2010.

First Half 2011 Highlights

  • Total revenues were US$121.3 million, an increase of 78.0% compared to the first half of 2010, and a 98.0% year-over-year increase excluding the effect from prepaid card business.
  • Operating income was US$42.8 million, an increase of 255.1% compared to the first half of 2010. Non-GAAP operating income was US$46.3 million, an increase of 193.3% compared to the first half of 2010.
  • Net income attributable to shareholders was US$28.7 million, an increase of 440.0% compared to the first half of 2010. Non-GAAP net income attributable to shareholders was US$39.7 million, an increase of 219.8% compared to the first half of 2010.

Financial Results for Second Quarter 2011

Revenues

For the second quarter of 2011, SouFun had total revenues of US$80.6 million, an increase of 93.0% compared to US$41.7 million for the same period of 2010. After excluding the effect from prepaid card business, total revenues for the second quarter of 2011 grow 117.0% compared to the same period of 2010.

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