Sina +5.7% AH, Weibo -4.2% following Q2 results, Q3 guidance


SINA expects Q3 revenue of $193M-$199M, below a $199.1M consensus. Subsidiary Weibo (NASDAQ:WB) expects Q3 revenue of $79M-$82M, in-line with an $80.2M consensus.

Sina's online ad revenue rose 29% Y/Y in Q2 to $184.4M, while its non-ad revenue fell 11% to $28.6M thanks to a $13.6M drop mobile value-added service revenue. The revenue figures include contributions from Weibo.

Sina's gross margin rose to 61% from 60% in Q1 and 54% a year ago. Opex rose 55% Y/Y (well above rev. growth of 19%) to $116.9M thanks to heavy marketing and R&D investments.

Weibo's ad/marketing revenue rose 99% Y/Y to $59.6M, and its value-added service revenue rose 130% to $17.7M. Costs/expenses rose 18% (less than rev. growth of 105%) to $87.8M.

Weibo's monthly active users rose 9% Q/Q and 30% Y/Y to 156.5M. Daily active users rose 5% Q/Q and 32% Y/Y to 69.7M.

Low expectations appear to be helping Sina out.

Sina: Q2 results, PR. Weibo: Q2 results, PR.

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