Sina Corp (SINA) Tops Q2 EPS by 12c; Raises Outlook
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Sina Corp (NASDAQ: SINA) reported Q2 EPS of $0.27, $0.12 better than the analyst estimate of $0.15. Revenue for the quarter came in at $244 million versus the consensus estimate of $231.69 million.
Sina Corp sees FY2016 revenue of $.950-1 billion, versus prior guidance of $850-950 billion and the consensus of $951.56 billion.
"We are delighted that SINA continued to firmly execute its mobile strategy and delivered solid results in the second quarter." said Charles Chao, Chairman and CEO of SINA. "For our portal business, we witness sustainable growth of mobile traffic, with the daily active users of SINA News application increasing significantly quarter over quarter. Mobile monetization for portal has further elevated, with 48% of total portal advertising revenues contributed from the mobile devices." Mr. Chao added.
"Our Weibo continued its strong user growth momentum, thanks to the effective channels we have built for user penetration and the optimized user experience we cultivated in short video and live contents consumption." said Mr. Chao. "On the other hand, Weibo has demonstrated strong platform value proposition to a diversified customer base with significant growth in advertising revenues from key accounts and small and medium enterprises. We are also delighted to see continuing operating margin expansion for Weibo, strongly demonstrating operating leverage of the platform." Mr. Chao concluded.
For earnings history and earnings-related data on Sina Corp (SINA) click here.
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