Sina SINA reported its second quarter earnings on Friday. Shares of the company are up four percent.
Below are some key highlights from its conference call:
• The monthly active user for the month of June grow by 30% compared to the
same period of last year and reached 156.5 million.
• The non-advertising revenues suffered a
year-over-year decline in the second quarter as we continue to scale down our
mobile value added service business.
• SINA remained the majority shareholder of Weibo,
holding approximately 58% or 54% fully diluted basis of Weibo's total
outstanding shares.
• The monthly active user for the month of June grow by 30% compared to the
same period of last year and reached 156.5 million.
• Cash equivalents and short-term investments totaled $2.3 billion
compared to $1.9 billion as of December 31, 2013.
Guidance:
• Under the $500 million share repurchase program approved by our
board of directors, as of August 13, 2014.
• For the third quarter of 2014, we are
targeting non-GAAP net revenues between $193 million and $199 million,
representing an increase of 7% to 11% year-over-year.
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