Categories Earnings, LATEST, Technology

Streaming biz helps Sina Corp stay afloat despite slow adverting in Q2

Despite a slowdown in advertising revenues, Chinese technology firm Sina Corp (NASDAQ: SINA) posted second-quarter results that topped Street expectations. Net revenues edged down 1% to $533.1 million, pulled down by a 5% decline in ad revenues. Analysts were expecting Q2 revenues of $510.18 million.

Adverting revenues in Q2 were hurt primarily due to a decline in portal advertising revenues and negative forex impact. 

sina earnings
Image Courtesy: Sina

Non-advertising revenues, meanwhile, rose 19% year-over-year to $99.4 million, mainly attributable to the revenues derived from Weibo’s (NASDAQ: WB) live streaming business acquired last year.

Net income, excluding one-off items, came in at $0.76 per share, which was 29 cents higher than the Wall Street projection.

READ: Weibo’s Q2 results beat estimates

SINA shares gained 5.3% during pre-market hours. The stock has declined 31% in the year-to-date period.

Sina has been experiencing slower growth in the portal website due to the shift of brand advertisers’ budget to mobile applications that attract more user traffic. The development of mobile technology and the increasing penetration of internet have brought China into a new era where people are turning away from traditional portal websites to mobile applications.

Earlier today, Weibo said it surpassed analysts’ expectations for revenue and earnings in the second quarter of 2019, sending shares climbing 5.9% in premarket hours.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

CVX Earnings: Chevron reports lower revenue and profit for Q3 2024

Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to

Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results

Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a

AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates

Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion

Comments

  1. Pingback: Reba Fleurantin
  2. Pingback: Community service
  3. Pingback: Cosmetic dentistry
  4. Pingback: الصيادلة
  5. Pingback: attendance
  6. Pingback: pec deck inversé
  7. Pingback: Fiverr Earn
  8. Pingback: Fiverr Earn
  9. Pingback: fiverrearn.com
  10. Pingback: fiverrearn.com
  11. Pingback: TLI
  12. Pingback: weather
  13. Pingback: fiverrearn.com
  14. Pingback: fiverrearn.com
  15. Pingback: french bulldog
  16. Pingback: fiverrearn.com
  17. Pingback: aussie doodle dog
  18. Pingback: isla mujeres
  19. Pingback: frenchie colors
  20. Pingback: best Samsung
  21. Pingback: future university
  22. Pingback: future university
  23. Pingback: golf cart mexico
  24. Pingback: frenchie puppies
  25. Pingback: future university
  26. Pingback: lean six sigma
  27. Pingback: Piano service
  28. Pingback: FUE
  29. Pingback: FUE
  30. Pingback: Secure storage
  31. Pingback: Classic Books 500
  32. Pingback: Coach
  33. Pingback: FiverrEarn
  34. Pingback: How to start porn
  35. Pingback: pupuk organik
  36. Pingback: partners
  37. Pingback: pineal xt
  38. Pingback: duotrim
  39. Pingback: cortexi
  40. Pingback: FiverrEarn
  41. Pingback: FiverrEarn
  42. Pingback: FiverrEarn
  43. Pingback: FiverrEarn
  44. Pingback: FiverrEarn
  45. Pingback: FiverrEarn
  46. Pingback: live sex cams
  47. Pingback: FiverrEarn
  48. Pingback: FiverrEarn
  49. Pingback: FiverrEarn
  50. Pingback: FiverrEarn
  51. Pingback: FiverrEarn
  52. Pingback: FiverrEarn
  53. Pingback: FiverrEarn
  54. Pingback: FiverrEarn
  55. Pingback: FiverrEarn
  56. Pingback: FiverrEarn
  57. Pingback: anniversary
  58. Pingback: garden
  59. Pingback: FiverrEarn
  60. Pingback: FiverrEarn
  61. Pingback: FiverrEarn
  62. Pingback: FiverrEarn
  63. Pingback: cortexi scam
  64. Pingback: cheap sex cams
  65. Pingback: fullersears.com
  66. Pingback: freeze dried candy
  67. Pingback: marketplace
  68. Pingback: frt trigger
  69. Pingback: 늑대닷컴
  70. Pingback: Stacked symbol
  71. Pingback: nangs near me
  72. Pingback: superslot
  73. Pingback: allgame
  74. Pingback: 918kiss
  75. Pingback: หวย24
  76. Pingback: pg slot
  77. Pingback: masumintl
  78. Pingback: itme.xyz
  79. Pingback: ItMe.Xyz
  80. Pingback: MasumINTL.Com

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top