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SINA Corp (SINA) Q2 Earnings & Revenues Beat Estimates

SINA Corp. SINA reported second-quarter 2016 adjusted earnings of 6 cents per share, which was way better than the Zacks Consensus Estimate of a loss of 1 cent and loss of 19 cents reported in the year-ago quarter. Net revenues of $244 million also topped the consensus mark of $230.4 million while growing 14.2% year over year.

Following the strong results, shares were up nearly 4.9% in the after-hours trading session yesterday. SINA also upgraded its revenue outlook for the year. The company expects 2016 revenues to be in the range of $950 million to $1 billion as against the earlier projected range of $850 million to $950 million.

SINA CORP Price, Consensus and EPS Surprise | SINA CORP Quote

Quarter Details

Advertising revenues moved up 16.3% year over year to $205 million while Non-advertising revenues rose 4.3% year over year to $38.9 million. The upside was primarily driven by strength in advertising related to Weibo WB, though it was offset partially by...