E-House (China) Holdings Limited (NYSE: EJ) Climbs on Better Outlook

E-House (China) Holdings Limited (NYSE: EJ) today reported its third quarter financial results. Total revenues in the third quarter climbed up 119% to $86.2 million as compared to $39.3 million last year. While net income surged high by 211% to $37.2 million up from $12 million last year due to cash subsidies received from local governments by EJ’s subsidiaries.

E-House (China) Holdings Limited (NYSE: EJ) had a cash balance of $220.8 million in the third quarter. EJ also provided its fourth quarter outlook and expects revenues to be between $103 million - $106 million.

As a result, shares of E-House (China) Holdings Limited (NYSE: EJ) rallied 8.23% to $22.10 in the pre-market trading. In the last six months, EJ gained over 60%.