Categories Earnings, Technology

Earnings: Sina Corp. Q1 adjusted profit declines; stock falls

Sin Corp. Q1 revenue up 8%
Image Courtesy: Sina Corporation

Sina Corp. (Nasdaq: SINA) reported a decline in adjusted earnings for the first quarter when revenues of the China-based online media firm increased 8%. The company’s stock lost sharply early Thursday after the results missed analysts’ forecast.

Net income attributable to shareholders, on an adjusted basis, dropped to $0.40 per share from $0.47 per share last year. Reported profit was $33.08 million or $0.46 per share, compared to $28.69 million or $0.38 per share in the first quarter of 2018. It was weaker than the outcome projected by Wall Street.

Net revenues moved up 7.8% to $475.14 million in the March quarter.  Adjusted revenue came in at $472.5 million. Analysts were expecting a slightly higher top-line number. At $388 million, advertising revenue was up 6% year-over-year. The growth was driven by higher advertising and marketing revenues a the company’s microblogging website Weibo, which was partially offset by a decline in portal advertising revenues.

Advertising revenues rose 6% helped by strong performance by the company’s microblogging website Weibo

There was an 18% growth in non-advertising revenue, owing mainly to revenues derived from Weibo’s live streaming business acquired in the previous quarter and higher revenues from Sina’s fin-tech businesses.

Weibo Beats on Earnings

Earlier, Weibo (NASDAQ: WB) reported better-than-expected first-quarter earnings, even as the top line narrowly missed the Street estimate.

Weibo’s revenues grew 14% to $399.2 million, below the Wall Street consensus of $401.51 million. Adjusted net income was 56 cents per share, above 51 cents per share projected by analysts. Weibo’s monthly active users (MAUs) stood at 465 million as of March 2019, representing a net addition of 54 million users since the last year.

Shares of Sina dropped about 9% in the pre-market trading Thursday, after closing the previous session lower.

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text

Most Popular

DG Earnings Preview: What to look for when Dollar General reports Q3 results

Discount store chain Dollar General Corporation (NYSE: DG) will be reporting third-quarter results next week. Operating nearly 20,000 stores across the US, it is one of the largest supermarket chains

Dollar Tree (DLTR): A few points to note about the discount retailer’s Q3 performance

Shares of Dollar Tree, Inc. (NASDAQ: DLTR) were up over 1% on Thursday. The stock has dropped 13% year-to-date. The discount retailer delivered third-quarter 2023 earnings results that did not

KR Earnings: Key quarterly highlights from Kroger’s Q3 2023 financial results

The Kroger Co. (NYSE: KR) reported its third quarter 2023 earnings results today. Total company sales were $34 billion compared to $34.2 billion for the same period last year. Identical sales

Comments

  1. Pingback: Public Policy
  2. Pingback: Future University
  3. Pingback: الاقتصاد
  4. Pingback: periodontology
  5. Pingback: Pharmacy's PHD
  6. Pingback: panantukan
  7. Pingback: Fiverr Earn
  8. Pingback: Fiverr Earn
  9. Pingback: Fiverr Earn
  10. Pingback: Fiverr Earn
  11. Pingback: Fiverr Earn
  12. Pingback: Fiverr Earn
  13. Pingback: fiverrearn.com
  14. Pingback: fiverrearn.com
  15. Pingback: fiverrearn.com
  16. Pingback: french bulldog
  17. Pingback: fiverrearn.com
  18. Pingback: fluffy frenchie
  19. Pingback: micro frenchies
  20. Pingback: tom kings kennel
  21. Pingback: mini frenchie
  22. Pingback: future university
  23. Pingback: future university
  24. Pingback: future university
  25. Pingback: rtp slot gacor
  26. Pingback: french bulldogs
  27. Pingback: Fiverr.Com
  28. Pingback: FiverrEarn
  29. Pingback: french bulldog
  30. Pingback: french bulldog
  31. Pingback: lean six sigma
  32. Pingback: Piano service
  33. Pingback: Discreet moving
  34. Pingback: Classic Books 500
  35. Pingback: FiverrEarn
  36. Pingback: FiverrEarn
Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top