— 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.
— 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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