SINA Slips Despite Earnings Beat
Aggregated Source: China Stocks News and Analysis from Seeking AlphaSina Corp., a leading Shanghai-based online media company and mobile value-added service provider serving China and Chinese communities globally, announced its unaudited Q3 financial results on Wednesday. Third-quarter net income rose 60% to $17.2 million ($0.28/share), from $10.7 million ($0.19/share) a year ago. Adjusted earnings were $0.32/share on a 15% rise in revenue to $64.3 million from $56.1 million. Analysts had expected EPS of $0.28 on revenue of $64.6 million. For Q4, Sina forecasts revenue of $68-70 million; analysts are calling for $69.6 million. Shares in Sina, China's top portal by revenue, fell 6.6% in after-hours trading to $46.20 after closing down 3.9% to $49.50 in regular trading on Nasdaq.
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