58.com (WUBA) reported its Q3 results with both revenue and EPS ahead of consensus.
The bottom line
We like WUBA as we believe it is the best way to play into China’s classified ad market given its robust set of properties that cover sectors including jobs, real estate, local services and automotive. With more than 500m app annual unique users and an increased expansion into lower-tier cities, we believe that WUBA is well-positioned to attract more paying business users in the lower tier regions as China’s economy gradually recovers.
However, the current weakness