Sina Earnings: Here’s Why Investors are Buying Shares Now
Sina Corp. (NASDAQ:SINA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.67%.
Sina Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 38.1% to $0.13 in the quarter versus EPS of $0.21 in the year-earlier quarter.
Revenue: Rose 4.3% to $139.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sina Corp. reported adjusted EPS income of $0.13 per share. By that measure, the company beat the mean analyst estimate of $0.05. It beat the average revenue estimate of $133.86 million.
Quoting Management:“2012 was a year of investment for SINA. We are delighted that Weibo continued to gain popularity and Weibo monetization was off to a good start,” said Charles Chao, CEO and Chairman of SINA. “In 2013, we will continue to improve user experience and expand the scale of Weibo monetization, while turn our focus to mobile Internet for all of our major product lines.”
Key Stats (on next page)…