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Sina Corporation (SINA)

  • Nov. 12, 2013, 5:27 PM
    • SINA expects Q4 revenue of $190M-$194M, well above a $182.1M consensus. Ad revenue is expected to total $160M-$162M, up from a Q4 2012 level of $110.7M.
    • Q3 ad sales rose 26% Y/Y to $151.6M; that's a faster growth rate than Q2's 17%. A major reason: Weibo ad sales jumped 46% Q/Q and 125% Y/Y to $43.7M.
    • Non-ad revenue only rose 5% Y/Y to $28.4M, after growing 35% in Q2. The slowdown occurred even though Weibo value-added service revenue rose 26% Q/Q and 121% Y/Y to $9.7M.
    • Gross margin jumped to 64% from 54% in Q2 and the year-ago period. Sina says its "efforts to scale its core advertising business profitably" are improving margins.
    • Opex rose 23% Y/Y, slightly outpacing rev. growth of 21%. A 29% increase in R&D spend to $36.6M had much to do with the increase.
    • SINA +3.4% AH. CC at 8PM ET. Q3 results, PR.
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  • Nov. 12, 2013, 4:46 PM
    • SINA (SINA): FQ3 EPS of $0.42 beats by $0.10.
    • Revenue of $179.9M (+21% Y/Y) beats by $1.2M. (PR)
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  • Nov. 12, 2013, 12:10 AM
  • Nov. 11, 2013, 5:35 PM
  • Aug. 12, 2013, 5:40 PM
    • Sina (SINA) expects Q3 revenue of $176M-$180M, well above a $165.5M consensus.
    • Ramping Weibo monetization helped fuel the Q2 beat. Weibo ad revenue +209% Y/Y to $30M, and Weibo value-added service (VAS) revenue (games, membership fees) +186% to $7.7M. Weibo now makes up 24% of total revenue.
    • Total ad revenue +17% Y/Y to $120.6M (+20% in Q1), total non-ad revenue +35% to $32.2M (only +17% in Q1).
    • Ad revenue is expected to surge to $151M-$153M in Q3, but non-ad revenue is expected to drop to $25M-$27M thanks to a $6M Q/Q decline in mobile VAS revenue.
    • Gross margin was 54%, up from 51% in Q1 and 53% a year ago.
    • Another reason for the EPS beat: opex only rose 13% Y/Y, less than rev. growth of 20% and representing a sharp slowdown in growth from recent quarters. Lower marketing spend was partly responsible.
    • CC at 9PM ET. Q2 results, PR
    | 1 Comment
  • Aug. 12, 2013, 5:03 PM
    • SINA (SINA): Q2 EPS of $0.21 beats by $0.09.
    • Revenue of $152.8M beats by $7.6M. (PR)
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  • Aug. 12, 2013, 12:10 AM
  • Aug. 11, 2013, 5:35 PM
  • Aug. 1, 2013, 5:45 PM
    • YY's Q3 guidance is for revenue of RMB430M-RMB440M ($70.1M-$71.8M), good for 88%-92% Y/Y growth and well above a consensus of $61.4M.
    • Q2 music services (YY Music) revenue +189% Y/Y to $27.8M (42% of total) thanks to a 174% increase in paid users to 635K.
    • Online game revenue +87% Y/Y to $24.8M.  Paid users +61% to 440K, Q2 ARPU +16% to RMB346 ($56.72).
    • Online ads +42% to $6.9M, other revenue (membership program) +149% to $7.1M.
    • Opex doubled Y/Y to $22.4M thanks to higher R&D and G&A spend. But since gross profit rose 136% Y/Y on the back of 118% rev. growth, op. margin rose to 20.2% from 12.7% a year ago.
    • Chinese social networking peers are up in sympathy. Renren (RENN) +2.8% AH after soaring 19.5% in regular trading in the absence of major news. Sina (SINA) +0.8% after rising 6.8% thanks to Alibaba's moves.
    • Q2 results, PR
    | 1 Comment
  • May. 16, 2013, 5:08 PM
    Sina (SINA): Q1 EPS of $0.02 beats by $0.05. Revenue of $126M (+19% Y/Y) beats by $8.5M. Expects Q2 revenue of $143M-$147M, above $142.7M consensus. Shares +4.6% AH. (PR)
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  • May. 16, 2013, 12:10 AM
    Notable earnings after Thursday’s close: ADSK, AMAT, ARUN, BRCD, DELL, JCP, JWN, SINA, VNET
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  • May. 15, 2013, 5:35 PM
    Notable earnings after Thursday’s close: ADSK, AMAT, ARUN, BRCD, DELL, JCP, JWN, SINA, VNET
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  • Mar. 20, 2013, 10:57 AM
    Solid earnings from Tencent (TCEHY.PK) and a rally in Shanghai help Chinese Internet stocks trade higher. YOKU +3.8%. SINA +2.8%. QIHU +2.5%. SOHU +1.8%. YY +1.8%. NTES +1.5%. PWRD +1.7%. Tencent, which rose 1.5% in Hong Kong, reported a 53% Y/Y increase in Q4 sales to $1.96B, and a 37% increase in net income to $557M. Ad sales were better than expected, and value-added service sales (includes online games) rose 32%. Registered accounts for Tencent's WeChat mobile IM platform, which competes with Sina's Weibo, have topped 300M.
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  • Mar. 12, 2013, 1:23 PM
    A selloff in Shanghai and poor guidance from Perfect World (PWRD -7.9%) lead some Chinese Internet stocks to underperform. YY -7.1%. BIDU -2%. SINA -2.5%. GAME -2.6%. Citi has downgraded Perfect World to Neutral on sales and margin concerns. On the earnings call, management mentioned sales of PWRD's popular Torchlight 2 game are expected to see a Q1 drop. One title the company has high hopes for (Neverwinter) will launch in Q2, while two others (Saint Seiya and Swordsman Online) are expected around mid-year.
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  • Feb. 20, 2013, 9:27 AM
    Sina (SINA) +7.6% as praise pours in for its Q4 beat, which was highlighted by growing Weibo revenue (20% of total). Stifel predicts Weibo, which produced a 2011/2012 surge in R&D spend, will turn an operating profit in Q4. On its earnings call, Sina admitted Tencent's (TCEHY.PK) WeChat mobile messaging platform, which now has 300M registered accounts, contributed to a "slight decrease in average time spent" by Weibo users. But it insisted Weibo and its 500M+ accounts now have a "critical mass," and said it's investing heavily to increase Weibo's mobile reach.
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  • Feb. 19, 2013, 5:54 PM
    Sina (SINA) now +6.6% following its Q4 beat. Along with its report, the company  announces COO Hong Du is now a co-president, and former Cisco/eBay exec Jack Xu has been named CTO. Online ad sales +7% Y/Y to $110.7M (80% of revenue). Mobile value-added services (VAS) continue plunging, -38% to $13.2M. But Weibo VAS (closely-watched) +181% to $10.6M. Opex +11% Y/Y, higher than revenue growth. Gross margin was 57%, up from 54% in Q3 and a year ago. CC at 8PM ET (webcast). (PR)
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Company Description
SINA Corp is an online media company and MVAS provider in the People's Republic of China and for the global Chinese communities.
Sector: Technology
Country: China