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Sina beats Street 4Q forecasts

SHANGHAI (AP) _ Sina Corp. (SINA) on Wednesday reported fourth-quarter profit of $19.9 million.

The Shanghai-based company said it had profit of 27 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 63 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The internet portal posted revenue of $313.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $307.7 million.

For the year, the company reported profit of $225.1 million, or $3.01 per share. Revenue was reported as $1.03 billion.

Sina expects full-year revenue in the range of $1.3 billion to $1.44 billion.

Sina shares have increased 31 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $79.56, an increase of 80 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SINA at https://www.zacks.com/ap/SINA

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Keywords: Sina, Earnings Report