SINA Corp Third Quarter 2016 Highlights (NASDAQ:SINA)
Sina Corporation (NASDAQ:SINA ) is reporting for the quarter ending September 30, 2016. The internet media company’s consensus earnings per share forecast from the 2 analysts that follow the stock is $0.19. This value represents a 26.67% increase compared to the same quarter last year. SINA missed the consensus earnings per share in the 1st calendar quarter of 2016 by -125%. Zacks Investment Research reports that the 2016 Price to Earnings ratio for SINA is 119.65 vs. an industry ratio of 8.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Sina is a Chinese online media company. Sina operates four major business lines: Sina Weibo, Sina Mobile, Sina Online, and Sina.net. Sina has over 100 million registered users worldwide
- Net revenues increased 21% year over year to $274.9 million.
- Non-GAAP net revenues increased 22% year over year to $272.3 million.
- Advertising revenues grew 21% year over year to $233.6 million.
- Income from operations increased 147% year over year to $36.3 million. Operating margin was 13%, up from 6% for the same period last year.
- Non-GAAP income from operations increased 99% year over year to $56.5 million. Non-GAAP operating margin was 21%, up from 13% for the same period last year.
- Net income attributable to SINA was $146.5 million, or $1.90 diluted net income per share. Non-GAAP net income attributable to SINA was $43.7 million, or $0.56 diluted net income per share.
- Weibo’s monthly active users (“MAUs”) in September 2016 grew 34% year over year to 297 million, 89% of which were mobile users. Average daily active users (“DAUs”) in September 2016 grew 32% year over year to 132 million
“We are delighted to have another solid quarter.” said Charles Chao, Chairman and CEO of SINA. “SINA portal has further implemented its mobile strategy, with significant growth of mobile traffic from SINA News Application. Mobile monetisation for portal has further enhanced, with 50% of the portal advertising revenues coming from mobile devices.” Mr. Chao added.
“With strong growth in user base, revenues and profitability, Weibo has demonstrated its platform value with the network effect of the content ecosystem and strong monetisation capability.” said Mr. Chao. “We take great pride that Weibo is returning to the center stage of Chinese Internet market.”
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