JOBS: Coping With The Weakness Of China’s Economy, Which Is Toward The Bottom; Expect 3Q19 Performance To Be Within Its Guidance
JOBS will report 3Q19 results on November 14th after the markets close followed by an 8pm EST conference call. We are positive on JOBS’ performance in 3Q19. Based on multiple sets of data, we believe China’s economy is reaching its bottom. We cannot predict when the economy is likely to recover; however, we believe it may be hard to go further down. Based on our data and calculations, we believe 51Job’s revenue in 3Q19 is likely to be within the company’s guidance range of RMB 915M – RMB 955M.