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Weibo, SINA Shares Trade Lower After Mixed Results

Tanzeel Akhtar

Chinese technology company SINA (NASDAQ: SINA) reported quarterly earnings of 40 cents per share, which missed the analyst consensus estimate of 42 cents. This is a 14.89 percent decrease over earnings of 47 cents per share from the same period last year.

SINA reported quarterly sales of $472.5 million, which missed the analyst consensus estimate of $473.18 million. This is a 7.84 percent increase over sales of $438.143 million the same period in 2018.

SINA shares are trading lower by 9.7 percent at $42.73 Thursday morning.

Weibo Beats Estimates

View more earnings on WB

Weibo Corporation (NASDAQ: WB) is a social network company providing the Chinese microblogging website Sina Weibo.

Weibo reported quarterly earnings of 56 cents per share, which beat the analyst consensus estimate of 52 cents by 7.69 percent. This is a 12 percent increase from the same period last year.

The company reported quarterly sales of $399.2 million, which beat the analyst consensus estimate of $398.82 million. This is a 14.10 percent increase over sales of $349.883 million the same period in 2018.

Weibo sees second-quarter sales of $427 million-$437 million compared to a $481.8 million estimate.

Weibo shares are trading lower by 12.5 percent at $44.75.

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