Sina Corp (SINA) Reports In-Line Q1 EPS; Issues Light Q2 Revs Outlook

Sina Corp (NASDAQ: SINA) reported Q1 EPS of $0.15, in-line with the analyst estimate of $0.15. Revenue for the quarter came in at $171.5 million versus the consensus estimate of $165.03 million.

"We are delighted to report strong revenue growth in the first quarter of 2014 driven by our continuing success in Weibo monetization," said Charles Chao, Chairman and CEO of SINA. "The successful separate listing of Weibo on the NASDAQ Global Select Market in April opened a new chapter for SINA. The more independent structure will help Weibo to better realize its long-term growth potential and create greater value for our shareholders. Looking forward, we hope to repeat our past successes of leveraging SINA's brand equity and market influence to build new businesses. We believe there is significant value creation potential by leveraging SINA's portal assets to build leading verticals and smartly deploying SINA's own cash pile of over $1.8 billion."

Sina Corp sees Q2 2014 revenue of $177-182 million, versus the consensus of $197.7 million.

For earnings history and earnings-related data on Sina Corp (SINA) click here.

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