UPDATE 1-China Real Estate Q1 beats Wall Street

* Q1 ADS of $0.07 beats est by a cent

* Q1 rev more than doubles

* Says in deal with China’s Baidu

* Deal to operate Baidu’s real estate-related web channels

May 13 (BestGrowthStock) – China Real Estate Information Corp
(CRIC) (CRIC.O: ) posted an adjusted quarterly profit above
consensus view, driven largely by the country’s booming
property sector, even as the Chinese government moves to
stabilize prices.

For the first quarter, the subsidiary of E-House China
Holdings Ltd (EJ.N: ) earned $1.9 million, or 1 cent per ADS,
compared with $3.6 million, or 5 cents per ADS, a year earlier.

On an adjusted basis it earned 7 cents per ADS, topping
analysts’ view by a penny.

Revenue more than doubled to $27.2 million, beating Wall
Street expectations of $24.3 million, according to Thomson
Reuters I/B/E/S.

Separately, CRIC also said it had agreed with Chinese
language internet search provider Baidu Inc (BIDU.O: ) to build
and operate all of Baidu’s Web channels related to real estate
and home furnishings, among others.

CRIC, which paid $29.3 million to Baidu, will retain all
revenue generated from the channels.

ADS of the Shanghai-based company closed at $8.41 Wednesday
on Nasdaq.

Stock Market Investing
(Reporting by Biswarup Gooptu in Bangalore; Editing by
Unnikrishnan Nair)

UPDATE 1-China Real Estate Q1 beats Wall Street