Sina Corp (SINA) Tops Q2 EPS by 11c, Revenues Beat

Sina Corp (NASDAQ: SINA) reported Q2 EPS of $0.54, $0.11 better than the analyst estimate of $0.43. Revenue for the quarter came in at $507 million versus the consensus estimate of $482.85 million.

Second Quarter 2020 Highlights

Net revenues decreased 5% year-over-year to $507.7 million. Non-GAAP net revenues decreased 5% year-over-year to $505.1 million, representing a decrease of 1% on a constant currency basis [1].
Advertising revenues decreased 10% year-over-year to $392.2 million.
Non-advertising revenues increased 16% year-over-year to $115.5 million. Non-GAAP non-advertising revenues increased 17% year-over-year to $112.9 million.
Net loss attributable to SINA was $25.4 million, or $0.42 for diluted net loss per share attributable to SINA's ordinary shareholders. Non-GAAP net income attributable to SINA was $34.4 million, or $0.54 for non-GAAP diluted net income per share attributable to SINA's ordinary shareholders.

[1] On a constant currency (non-GAAP) basis, we assume that the exchange rate in the second quarter of 2020 had been the same as it was in the second quarter of 2019, or RMB6.81=US$1.00.

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

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