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Recap: SINA Q2 Earnings

Benzinga Insights
·1 min read

Shares of SINA (NASDAQ:SINA) moved higher by 5.4% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share fell 28.95% year over year to $0.54, which beat the estimate of $0.43.

Revenue of $505,135,000 declined by 4.77% year over year, which beat the estimate of $482,850,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

View more earnings on SINA

Revenue guidance hasn't been issued by the company for now.

Technicals

Company's 52-week high was at $44.99

52-week low: $26.04

Price action over last quarter: Up 27.21%

Company Profile

Sina is a leading online media company in China, established in 1998. In 2009, Sina launched the first Twitter-like social media platform in China, Weibo, which has reached 361 million monthly active users and 159 million daily active users. Sina holds 46% of shares and has 72% voting power in Weibo, and Alibaba holds 31.4% of shares and 14.8% voting power. About 85% of net revenue is from online advertising, with 29.5% from portal advertising and 55.4% from Weibo advertising.

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