Sina Corp (SINA) Tops Q1 EPS by 5c

Sina Corp (NASDAQ: SINA) reported Q1 EPS of $0.04, $0.05 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $184.6 million versus the consensus estimate of $180.72 million.

Online advertising revenues for the first quarter of 2015 were $150.4 million, compared to $135.7 million for the same period last year. The year-over-year growth in online advertising revenues resulted from an increase of $27.3 million in Weibo advertising and marketing revenues, offset by a decline of $12.7 million in portal advertising revenues.

"We are delighted that Weibo continued to show strong momentum in both operational and financial fronts." said Charles Chao, Chairman and CEO of SINA. "Weibo's mobile strategy has continued to deliver impressive results in both user traffic and revenue growth. With Weibo's firm execution in user growth, capitalizing on the shift to mobile by rolling out more mobile centric and social advertising products, we believe that the powerful social media platform and cohesive ecosystem that we have built up will better fulfill both users' and customers' needs at various dimensions. On the portal side, we are experiencing a critical transformative period to revamp our legacy business and diversify our business models through implementation of vertical and mobile strategies. We have seen encouraging results from certain vertical areas and mobile forefronts. We are confident that we can further leverage SINA's brand to capture more business opportunities and achieve long-term growth." Mr. Chao added.

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

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