Reuters logo
Sina Q3 profit more than doubles from year ago
November 12, 2013 / 11:15 PM / in 4 years

Sina Q3 profit more than doubles from year ago

SAN FRANCISCO (Reuters) - Chinese Internet company Sina Corp reported profit in the third quarter more than doubled from a year ago, due to strong revenue growth from its Weibo microblogging service.

U.S. listed shares of Sina were up 3.6 percent at $78.65 in after-hours trading on Tuesday.

In the three months ended September 30, Sina’s adjusted net revenue increased 22 percent from a year ago to $179.9 million. Weibo advertising revenues grew 125 percent in the third quarter.

Sina posted net income of $25.4 million, or 37 cents per share, versus $9.9 million, or 14 cents per share, in the year-ago period.

Excluding certain items, Sina said it earned 42 cents per share.

Sina said that it expected adjusted net revenue to range between $190 million and $194 million in the fourth quarter.

Reporting by Alexei Oreskovic; Editing by Ken Wills

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below