Investor’s Watch List: SINA Corporation (NASDAQ: SINA)

Randolph Machuca

I am Randolph Machuca and I focus on breaking news stories and ensuring we (“Newz Skoop”) offer timely reporting on some of the most recent stories released through market wires about “Technology” sector.

I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Newz Skoop specializing in quicker moving active shares with a short term view on investment opportunities and trends.

Address: 1312 Williams Avenue Los Angeles, CA 90017, USA
Phone: (+1) 661-244-9444
Email: Randolphmachuca@newzskoop.com
Randolph Machuca

BEIJING, October 20, 2019 – Shares of SINA Corporation (NASDAQ: SINA) declined -3.92% to $39.70. The stock traded total volume of 531.640K shares lower than the average volume of 883.87K shares.

For the first quarter of 2019, SINA Corporation (SINA) reported net revenues of $475.10M, an increase of 8% compared to $440.80M for the same period last year. Non-GAAP net revenues for the first quarter of 2019 were $472.50M, an increase of 8% compared to $438.10M for the same period last year.

Advertising revenues for the first quarter of 2019 were $388.00M, an increase of 6% compared to $367.10M for the same period last year, primarily driven by an increase of $38.20M, or 13% growth in Weibo advertising and marketing revenues and partially offset by a decrease of portal advertising revenues.

Non-advertising revenues for the first quarter of 2019 were $87.10M, an increase of 18% compared to $73.70M for the same period last year. Non-GAAP non-advertising revenues for the first quarter of 2019 were $84.50M, an increase of 19% compared to $71.10M for the same period last year. The year-over-year growth in non-advertising revenues was mainly attributable to the revenues derived from Weibo’s live streaming business acquired in the fourth quarter of 2018 and increased revenues generated from SINA fin-tech businesses.

Operating expenses for the first quarter of 2019 totaled $272.70M, compared to $258.80M for the same period last year. Non-GAAP operating expenses for the first quarter of 2019 totaled $245.30M, compared to $237.30M for the same period last year.

Income from operations for the first quarter of 2019 was $86.90M, compared to $73.30M for the same period last year. Operating margin was 18%, compared to 17% for the same period last year. Non-GAAP income from operations for the first quarter of 2019 was $114.20M, compared to $94.60M for the same period last year. Non-GAAP operating margin was 24%, compared to 22% for the same period last year.

Non-operating income for the first quarter of 2019 was $77.70M, compared to $22.60M for the same period last year. Non-operating income for the first quarter of 2019 included (i) an $80.80M net gain on sale of investments, fair value changes and impairment on investments, which is excluded under non-GAAP measure; (ii) a $13.10M net interest and other income; and (iii) a $16.30M net loss from equity method investments, which is reported one quarter in arrears. Non-operating income for the first quarter of 2018 mainly included (i) a $17.10M net interest and other income; and (ii) a $7.20M net gain on sale of investments, fair value changes and impairment on investments, which is excluded under non-GAAP measure.

Income tax expenses for the first quarter of 2019 were $65.20M, compared to $18.80M for the same period last year, largely attributable to the deferred tax charges recognized from the fair value changes of investments.

Net income attributable to SINA’s ordinary shareholders for the first quarter of 2019 was $33.10M, compared to $28.70M for the same period last year. Diluted net income per share attributable to SINA’s ordinary shareholders for the first quarter of 2019 was $0.46, compared to $0.38 for the same period last year. Non-GAAP net income attributable to SINA’s ordinary shareholders for the first quarter of 2019 was $28.90M, compared to $35.20M for the same period last year. Non-GAAP diluted net income per share attributable to SINA’s ordinary shareholders for the first quarter of 2019 was $0.40, compared to $0.47 for the same period last year.

As of March 31, 2019, SINA’s cash, cash equivalents and short-term investments totaled $2.10B, compared to $2.30B as of December 31, 2018. The decrease of SINA’s cash, cash equivalents and short-term investments mainly resulted from continued investment activities. For the first quarter of 2019, net cash provided by operating activities was $93.50M, capital expenditures totaled $10.00M, and depreciation and amortization expenses amounted to $11.10M.

SINA has the market capitalization of $2.87B and its EPS growth ratio for the past five years was 20.90%. The return on assets ratio of the Company was 2.40% while its return on investment ratio stands at 7.00%. Price to sales ratio was 1.34 while 72.00% of the stock was owned by institutional investors.

Randolph Machuca

Randolph Machuca

I am Randolph Machuca and I focus on breaking news stories and ensuring we (“Newz Skoop”) offer timely reporting on some of the most recent stories released through market wires about “Technology” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Newz Skoop specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 1312 Williams Avenue Los Angeles, CA 90017, USA Phone: (+1) 661-244-9444 Email: Randolphmachuca@newzskoop.com

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