SINA Corp (SINA) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $0.27 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.16. The company posted revenue of $241.40 million in the period, compared to analysts expectations of $230.91 million. The company’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.
Many Wall Street Analysts have commented on SINA Corp. SINA Corp was Initiated by Citigroup to “Buy” on Aug 5, 2016. SINA Corp was Upgraded by Jefferies to ” Buy” on Jul 22, 2016.
SINA Corp opened for trading at $56 and hit $57.97 on the upside on Friday, eventually ending the session at $57.51, with a gain of 2.79% or 1.56 points. The heightened volatility saw the trading volume jump to 7,68,721 shares. Company has a market cap of $4,017 M.
SINA Corporation is an online media company serving China and the global Chinese communities. The Company operates its business through three business segments: SINA Portal Weibo and other businesses. Its digital media network of SINA.com SINA mobile and Weibo enables Internet users to access media and users generated content (UGC) in multi-media formats from personal computers and mobile devices and share their interests with friends and acquaintances. SINA.com offers professional content on each of its region-specific Websites and a range of complementary offerings. Its mobile portal SINA.cn provides news information and entertainment content from SINA.com customized for mobile users in WAP (mobile browser) and mobile application format such as SINA News SINA Sports SINA Finance SINA Entertainment and SINA Blog. Weibo is a social media platform for people to create distribute and discover Chinese-language content.