Tue, Mar. 10, 5:07 PM
- Though it beat Q4 estimates, SINA is guiding for 2015 revenue of $800M-$900M; the midpoint is below an $884.6M consensus. Majority-owned Weibo (NASDAQ:WB) is guiding for Q1 revenue of $93M-$96M vs. a $94.4M consensus.
- The companies have announced Sina CFO Herman Yu will become Weibo's CFO, and Weibo CFO Bonnie Zhang will become Sina's CFO.
- With Weibo providing a boost, Sina's ad revenue rose 14% Y/Y in Q4 to $181.9M. Non-advertising revenue (non-GAAP) fell 18% to $26.6M, with a $4.8M drop in mobile value-added service (VAS) revenue offsetting a $1.9M increase in Weibo VAS revenue.
- Sina's gross margin was 65%, up from 63% in Q3 and 64% a year ago. Operating expenses rose 34% Y/Y to $132.9M (compares with just 7% revenue growth).
- Weibo's Q4 revenue beat was driven by a 57% Y/Y increase in ad/marketing service revenue to $88M; VAS revenue rose 12% to $17.2M. Costs/expenses rose 40% to $95.5M (compares with 47% revenue growth).
- Weibo monthly active users rose 5% Q/Q and 36% Y/Y to 175.7M. Daily active users rose 5% Q/Q and 31% Y/Y to 80.6M.
- SINA +0.8% AH to $36.50; shares went into earnings less than $2 away from a 52-week low of $34.89. WB -1.8% to $14.61 after rising 2.2% in regular trading.
- Sina: Q4 results, PR. Weibo: Q4 results, PR.
Tue, Mar. 10, 4:33 PM
Mon, Mar. 9, 5:35 PM
Wed, Jan. 7, 12:46 PM
Dec. 22, 2014, 5:21 PM
- SINA states police in the city of Shenzhen are probing allegations P2P lending platform Zhonghuizaixian.com misappropriated bankers' acceptances supporting a wealth management product Sina helped sell. Zhonghuizaixian recently said it has received investor claims demanding as much as $8.8M.
- Sina's financial liability might be bigger than that: GeoTeam: "According to Chinese media, there's RMB 260M (USD $42.4M) that may have to be made whole by [Sina's] subsidiary & over 3k investors affected."
- A number of major Chinese Internet companies have launched wealth management platforms via partnerships. The products have seen healthy uptake among Chinese consumers looking for an alternative to the low interest rates provided by state-owned banks.
Dec. 1, 2014, 10:38 AM
- Chinese Internet and telecom names are among the biggest tech decliners as the Nasdaq registers a 0.9% drop. A soft November PMI print isn't helping.
- Giants Alibaba (BABA -4.3%) and Baidu (BIDU -2.8%) are among the casualties. As is Qunar (QUNR -5.8%), which reports after the bell.
- Other Internet decliners: BITA -12%. QIHU -4.4%. CTRP -4.3%. SFUN -7.2%. LEJU -7.5%. RENN -6.3%. SINA -3.8%. WB -3%. YY -3.9%. VIPS -3.8%. SOHU -3.5%. MOBI -4.3%. CMGE -8.6%.
- Telecom decliners: CHL -3.6%. CHU -3.9%. CHA -4%.
- ETFs: KWEB, CQQQ, QQQC
Nov. 13, 2014, 4:52 PM
- Though it beat Q3 estimates, SINA expects Q4 revenue of $204M-$210M, below a $214.8M consensus. On the other hand, majority-owned Weibo (NASDAQ:WB) expects Q4 revenue of $102M-$105M, above a $100.6M consensus.
- Thanks to Weibo, Sina's Q3 ad revenue rose 10% Y/Y to $166.8M, and its non-ad revenue rose 3% to $29.2M. However, portal ad revenue fell by $6.5M Y/Y, and mobile value-added service revenue fell by $7.4M.
- Sina's Q3 gross margin was 63%, +200 bps Q/Q and -100 bps Y/Y. Opex rose 40% Y/Y to $127.1M, handily exceeding revenue growth of 9%.
- Weibo's ad/marketing revenue rose 50% Y/Y to $65.4M, and its value-added services revenue (boosted by its Alibaba partnership) 93% to $18.8M. Costs/expenses rose 51% to $87.8M, slightly trailing revenue growth of $84.1M.
- Weibo monthly active users rose 7% Q/Q and 36% Y/Y to 167M. Daily active users rose 10% Q/Q and 30% Y/Y to 76.6M.
- Sina: Q3 results, PR. Weibo: Q3 results, PR.
Nov. 13, 2014, 4:33 PM
Nov. 12, 2014, 5:35 PM
Nov. 4, 2014, 2:16 PM
- Tong Chen, a Sina (SINA +0.9%) EVP and the company's chief editor since 2007, is leaving to head up Xiaomi's TV ops as the smartphone vendor gets set to invest $1B in Web video content.
- Chen was the media chief for Sina's various Web/mobile properties. Ironically, Xiaomi announced his hiring through its Weibo microblog.
Sep. 15, 2014, 1:21 PM
- Maybe looking to raise cash with which to buy Alibaba (Pending:BABA) this week, investors are dumping a wide swath of other Chinese internet names.
- Qihoo (QIHU -2.6%), Sohu.com (SOHU -5.3%), Baidu (BIDU -3.8%), Sina (SINA -4.9%), Renren (RENN -4%), Weibo (WB -11.3%), YY (YY -7.3%).
- Previously: Alibaba to boost IPO size
Aug. 15, 2014, 9:13 AM
Aug. 14, 2014, 6:05 PM
- 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.
Aug. 14, 2014, 5:02 PM
Aug. 13, 2014, 5:35 PM
Aug. 8, 2014, 1:54 PM
- The Chinese government is requiring mobile messaging users with public accounts (celebrities, businesses, etc.) to register with their real names. It's also banning the sharing of "unauthorized" political news.
- The curbs are aimed in large part at Tencent's (OTCPK:TCEHY) WeChat, which has grown like wildfire and evolved into a platform for gaming, e-commerce, and much else. WeChat had 396M monthly active users at the end of Q1; Tencent should report a figure well above 400M during its Aug. 13 Q2 report.
- SINA's Weibo (NASDAQ:WB) has long been dealing with government crackdowns. A number of Weibo users have defected to WeChat in past quarters, while citing greater privacy and lighter censorship.
- At the same time, China is flat-out banning two Korean WeChat rivals: KakaoTalk and Naver's (OTC:NHNCF) Line. Line, the top mobile messaging platform in Japan, is set to go public in NYC and Tokyo.
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