Why Shares of Leju Holdings Are Down Today
Shares of the Chinese real estate services provider Leju Holdings (NYSE: LEJU) had fallen nearly 7% as of 11 a.m. EDT today after the company reported earnings results from the second quarter.
The company reported a loss of nearly $50 million, compared to a $1.2 million profit for the second quarter of 2020, primarily due to bad-debt provision. Total revenue climbed to more than $301 million, up 8% year over year.
The increase in revenue was driven by a 13% year-over-year increase in the company's e-commerce business, while its online advertising service revenue decreased 6% year over year.
Source Fool.com
