Sina Corp (SINA) Tops Q4 EPS by 6c; CFO Yu to Assume Similar Role at Weibo (WB)

Sina Corp (NASDAQ: SINA) reported Q4 EPS of $0.24, $0.06 better than the analyst estimate of $0.18. Revenue for the quarter came in at $211.1 million versus the consensus estimate of $207.61 million.

Changes in Management Roles

The Company also announced changes in management roles, whereby Mr. Herman Yu, the Company's Chief Financial Officer, will assume a new role as the Chief Financial Officer of Weibo Corporation (Nasdaq: WB), one of the Company's subsidiaries, and Ms. Bonnie Yi Zhang, Weibo's Chief Financial Officer, will serve as the Chief Financial Officer of the Company. Both changes are effective immediately.

Other Developments

As of March 10, 2015, the Company has repurchased approximately 8.1 million shares under its repurchase program, returning approximately $311 million of cash to stockholders. The Company expects to continue to execute the repurchase program for up to $500 million, which was approved in April 2014 by the Company's board of directors.

Business Outlook

In the year 2015, the Company will continue to execute a number of major initiatives to renovate its portal business in order to build a solid foundation for long term growth. Many of these transformative endeavors may take time to become meaningful revenue contributors, making it difficult for Management to predict the inflection point for a sustainable growth. As a result, the Company believes that an estimated range of annual revenue targets would be more reliable than quarterly revenue guidance. For the year 2015, SINA estimates that its non-GAAP net revenues will be between $800 million and $900 million, which exclude the recognition of $10.4 million in deferred license revenues from E-House. This forecast reflects SINA's current and preliminary view, which is subject to change.

The consensus sees FY15 revenue of $884.6 million.

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

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