Sina Corp (SINA) Tops Q3 EPS by 24c, Revenues Beat; Offers Revised FY18 Revenue Guidance Below Consensus

Sina Corp (NASDAQ: SINA) reported Q3 EPS of $0.93, $0.24 better than the analyst estimate of $0.69. Revenue for the quarter came in at $557.2 million versus the consensus estimate of $551.36 million.

"We are pleased with SINA's third quarter results. Despite intensified competition and macro headwinds, we delivered healthy growth in both revenues and profitability driven by the continued momentum of Weibo business." said Charles Chao, Chairman and CEO of SINA.

Third Quarter 2018 Highlights

• Both net revenues and non-GAAP net revenues increased 26% year-over-year to $557.2 million and $554.6 million, respectively.
• Advertising revenues increased 33% year-over-year to $483.8 million.
• Non-advertising revenues were $73.4 million. Non-GAAP non-advertising revenues were $70.8 million.
• Income from operations increased 6% year-over-year to $127.4 million. Non-GAAP income from operations increased 16% year-over-year to $168.1 million.
• Net income attributable to SINA was $45.4 million, or $0.62 for diluted net income per share attributable to SINA\'s ordinary shareholders. Non-GAAP net income attributable to SINA was $67.7 million, or $0.93 for non-GAAP diluted net income per share attributable to SINA\'s ordinary shareholders.

GUIDANCE:

Sina Corp sees FY2018 revenue of $2.09-2.12 billion, versus the consensus of $2.15 billion.

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

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