Sina Share Price Slides After Soaring on Better-Than-Expected Financial Results
Ma Yifei
DATE:  Aug 10 2017
/ SOURCE:  Yicai
Sina Share Price Slides After Soaring on Better-Than-Expected Financial Results Sina Share Price Slides After Soaring on Better-Than-Expected Financial Results

(Yicai Global) Aug. 10 -- Sina Corp. [NASDAQ:SINA] recently reported better-than-expected results for the second quarter.

Driven by its strong results, the share price of Sina increased nearly 9 percent in premarket trading on August 8, but declined and closed out the session down 0.5 percent. Its share price dropped another 5 percent in premarket trading on August 9 before the fall's size grew to 8.7 percent after opening. Its share price later pared much of its losses and ended the day down 0.07 percent. Meanwhile, stock in Sina's social network platform operator Weibo Corp. [NASDAQ:WB] rose to a new high.

Sina's net revenue increased 47 percent annually to USD358.9 million and its operating profit went up 355 percent to USD94.7 million. Its Non-GAAP operating margin was 32 percent, beating last year's 14 percent. Its net profit attributable to shareholders was USD23.4 million, and its diluted earnings per share was USD0.31.

As a main source of revenue for Sina, Weibo saw a 28-percent increase in monthly active users (MAUs) from 282 million in June last year to 361 million in June this year. Its daily active users (DAUs) rose about 33 million to 159 million. Its ad revenue went up 44 percent annually to USD295.2 million in the second quarter, while non-ad revenue grew by 64 percent annually to USD63.8 million.

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Keywords:   Weibo,Sina