UPDATE: CRIC Reports Better-Than-Expected Q1 Results, Issues Upbeat Q2 Revenue Projections

China Real Estate Information Corporation CRIC released its results for the first quarter on Tuesday. CRIC reported its Q1 non-GAAP income from operations at $5.8 million, versus $9.7 million, in the year-ago quarter. Its non-GAAP net income attributable to CRIC shareholders came in at $7.0 million, versus $10.3 million, in the year-ago quarter. CRIC's non-GAAP diluted net income came in at $0.05 per American depositary share (ADS). CRIC's total revenue surged 55% to $42.0 million, from $27.2 million, in the year-ago quarter. However, analysts were expecting earnings of $0.04 per ADS on revenue of $40.11 million. CRIC's revenue from online services jumped 148% to $20.5 million, from $8.3 million, in the year-ago quarter. CRIC projects Q2 revenue of $52 million to 54 million, versus analysts' estimates of $49.77 million. CRIC shares gained 1.09% to close at $6.47 on Friday. Read more from Benzinga's Company news.