SINA (SINA) Says Weibo User Base Surpasses 300M Milestone
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SINA Corp. (Nasdaq: SINA) shares are indicated much higher following the company's first-quarter results and guidance and reports of a significant leap in its user base.
The company posted a quarterly loss of 21 cents per share on sales of $101.5 million. The Street was expecting a loss of 23 cents per share on sales of $102.56 million.
Looking forward, SINA is expecting second-quarter sales of $126-$129 million, which compares to the Street estimate of $130.44 million.
According to a post on its own tech site, SINA said it has surpassed the 300 million registered user mark last quarter for its Twitter-esque Weibo site. An average day sees 100 million messages sent, the site also noted.
In addition, SINA noted that mobile use of Weibo has surpassed that of PC users. The most popular is Apple's (Nasdaq: AAPL) iPhone at 28 percent, Google's (Nasdaq: GOOG) Android at 27 percent, and WAP at 25 percent. SINA noted that total Apple devices using iOS made up about 33 percent of mobile traffic.
The headlines come amid China's efforts to have users register with state-issued IDs to prevent slander and other propaganda from being spread. SINA has recently said that the system is yet to be fully implemented.
Finally, the news may or may not be a boon for Renren (NYSE: RENN), meaning that users prefer the quickness and ease of microblogging to entire social networks like "the Facebook of China."
SINA shares are indicated over 8.5 percent better Wednesday morning.
The company posted a quarterly loss of 21 cents per share on sales of $101.5 million. The Street was expecting a loss of 23 cents per share on sales of $102.56 million.
Looking forward, SINA is expecting second-quarter sales of $126-$129 million, which compares to the Street estimate of $130.44 million.
According to a post on its own tech site, SINA said it has surpassed the 300 million registered user mark last quarter for its Twitter-esque Weibo site. An average day sees 100 million messages sent, the site also noted.
In addition, SINA noted that mobile use of Weibo has surpassed that of PC users. The most popular is Apple's (Nasdaq: AAPL) iPhone at 28 percent, Google's (Nasdaq: GOOG) Android at 27 percent, and WAP at 25 percent. SINA noted that total Apple devices using iOS made up about 33 percent of mobile traffic.
The headlines come amid China's efforts to have users register with state-issued IDs to prevent slander and other propaganda from being spread. SINA has recently said that the system is yet to be fully implemented.
Finally, the news may or may not be a boon for Renren (NYSE: RENN), meaning that users prefer the quickness and ease of microblogging to entire social networks like "the Facebook of China."
SINA shares are indicated over 8.5 percent better Wednesday morning.
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