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Shares of SINA (NASDAQ:SINA) moved higher by 5.4% in pre-market trading after the company reported Q2 results.
Quarterly Results
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Earnings per share fell 28.95% year over year to $0.54, which beat the estimate of $0.43.
Revenue of $505,135,000 declined by 4.77% year over year, which beat the estimate of $482,850,000.
Outlook
Earnings guidance hasn't been issued by the company for now.
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Revenue guidance hasn't been issued by the company for now.
Technicals
Company's 52-week high was at $44.99
52-week low: $26.04
Price action over last quarter: Up 27.21%
Company Profile
Sina is a leading online media company in China, established in 1998. In 2009, Sina launched the first Twitter-like social media platform in China, Weibo, which has reached 361 million monthly active users and 159 million daily active users. Sina holds 46% of shares and has 72% voting power in Weibo, and Alibaba holds 31.4% of shares and 14.8% voting power. About 85% of net revenue is from online advertising, with 29.5% from portal advertising and 55.4% from Weibo advertising.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.