Why 58.com (WUBA) Stock Is Falling Today

NEW YORK (TheStreet) -- 58.com (WUBA) was falling -5.5% to $47.83 Thursday after guiding below analysts' estimates for the third quarter, and despite beating estimates for the second quarter.

For the second quarter the company reported earnings of 15 cents a share, beating Thomson Reuters consensus estimates of 8 cents a share by 7 cents. Revenue grew 84% year-over-year to $64.6 million for quarter, above analysts' estimates of $62.65 million.

58.com said it expects $66 million to $68 million in revenue for the third quarter, below analysts' estimates of $72.6 million.

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WUBA Chart WUBA data by YCharts

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