SINA Corporation reported second-quarter 2018 non-GAAP earnings of 89 cents per share, which beat the Zacks Consensus Estimate of 71 cents and increased 27.1% from the year-ago quarter.
Non-GAAP net revenues grew 50.1% to $534.8 million. Advertising revenues (84.5% of total revenues) surged 53.8% year over year to $454.1 million.
Quarter Details
The increase in advertising revenues was driven by growth in Weibo segment’s advertising and marketing revenues.
Non-advertising (non-GAAP) revenues increased 31.9% year over year to $80.7 million driven by increased revenues from SINA fin-tech business and live broadcasting business as well as increased Weibo membership fees.
Revenues from Weibo business grew 68.4% year over year to $426.6 million, primarily driven by growth in user base and monetization. Non-ad revenues grew 61.7% to $56.6 million and ad and marketing revenues grew 69.4% to $369.9 million in the reported quarter.
Portal advertising revenues were up 8% year over year to $84.2 million driven by increased monetization of the mobile segment.
Mobile app revenues accounted for 82% of total portal ad revenues compared with 57% in the year-ago quarter. The upside can be attributed to growth in mobile traffic for SINA News and Finance applications.
Daily Active Users for News app and Finance app increased approximately 25% and 144%, respectively.
Portal non-advertising revenues increased 6.6% to $30.6 million driven by growth in the micro loan business. However, for the coming two quarters, stricter regulations in the micro-lending sector continue to remain an overhang.
Sina Corporation Price, Consensus and EPS Surprise
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SINA Corporation reported second-quarter 2018 non-GAAP earnings of 89 cents per share, which beat the Zacks Consensus Estimate of 71 cents and increased 27.1% from the year-ago quarter.
Non-GAAP net revenues grew 50.1% to $534.8 million. Advertising revenues (84.5% of total revenues) surged 53.8% year over year to $454.1 million.
Quarter Details
The increase in advertising revenues was driven by growth in Weibo segment’s advertising and marketing revenues.
Non-advertising (non-GAAP) revenues increased 31.9% year over year to $80.7 million driven by increased revenues from SINA fin-tech business and live broadcasting business as well as increased Weibo membership fees.
Revenues from Weibo business grew 68.4% year over year to $426.6 million, primarily driven by growth in user base and monetization. Non-ad revenues grew 61.7% to $56.6 million and ad and marketing revenues grew 69.4% to $369.9 million in the reported quarter.
Portal advertising revenues were up 8% year over year to $84.2 million driven by increased monetization of the mobile segment.
Mobile app revenues accounted for 82% of total portal ad revenues compared with 57% in the year-ago quarter. The upside can be attributed to growth in mobile traffic for SINA News and Finance applications.
Daily Active Users for News app and Finance app increased approximately 25% and 144%, respectively.
Portal non-advertising revenues increased 6.6% to $30.6 million driven by growth in the micro loan business. However, for the coming two quarters, stricter regulations in the micro-lending sector continue to remain an overhang.
Sina Corporation Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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