Sina Corp (SINA) Tops Q4 EPS by 6c, Revenues Beat; Offers FY19 Revenue Mid-Point Guidance Above Consensus (Earlier)

Sina Corp (NASDAQ: SINA) reported Q4 EPS of $0.80, $0.06 better than the analyst estimate of $0.74. Revenue for the quarter came in at $573 million versus the consensus estimate of $569.02 million.

• Both net revenues and non-GAAP net revenues increased 14% year-over-year to $573.0 million and $570.4 million, respectively.
• Advertising revenues increased 14% year-over-year to $484.3 million.
• Non-advertising revenues increased 12% year-over-year to $88.7 million. Non-GAAP non-advertising revenues increased 13% year-over-year to $86.1 million.
• Net income attributable to SINA was $16.4 million, or $0.22 for diluted net income per share attributable to SINA's ordinary shareholders. Non-GAAP net income attributable to SINA was $57.7 million, or $0.80 for non-GAAP diluted net income per share attributable to SINA's ordinary shareholders.
• Weibo's monthly active users ("MAUs") were 462 million in December 2018, a net addition of approximately 70 million users on a year-over-year basis. Weibo's mobile MAUs represented 93% of Weibo's MAUs.
• Weibo's average daily active users ("DAUs") were 200 million in December 2018, a net addition of approximately 28 million users on a year-over-year basis.

GUIDANCE:

Sina Corp sees Q1 2019 revenue of $2.44-2.59 billion, versus the consensus of $2.45 billion.

For the fiscal year 2019, SINA estimates that its net revenues are between RMB16.5 billion and RMB17.5 billion, or US$2.44 billion and US$2.59 billion, assuming US dollar and RMB exchange rate of 6.75. It represents an annual growth rate of 18% to 25% on a constant currency basis. Such revenue forecast includes the recognition of $10.4 million in deferred license revenues related to the license granted to Leju. This forecast reflects SINA's current and preliminary view, which is subject to change.

For earnings history and earnings-related data on Sina Corp (SINA) click here.

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