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Sina (NASDAQ: SINA): Q3 2019 Earnings Snapshot

— Sina Corporation (NASDAQ: SINA) reported its third-quarter 2019 adjusted earnings of $0.94 per share versus $0.59 per share expected.

— Net revenues rose by 1% to $561.4 million while adjusted revenue increased by 1% to $558.8 million. This is compared to the consensus estimates of $555.69 million.

Earnings Update by AlphaStreet

— Advertising revenues fell by 5% primarily due to a decline in portal advertising revenues and negative currency translation impact.

— Non-advertising revenues jumped by 37% on increased revenues generated from SINA fin-tech businesses and revenues derived from Weibo’s live streaming business acquired in the fourth quarter of 2018.

— As of September 30, 2019, SINA’s cash, cash equivalents, and short-term investments totaled $2.9 billion, compared to $2.3 billion as of December 31, 2018, mainly due to net proceeds received from Weibo’s senior notes offering.

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