SINA Q3 Profit Beats Estimate

(RTTNews) - SINA Corp. (SINA) reported third-quarter net income attributable to the company of $25.4 million, or $0.37 per share, compared to $9.9 million, or $0.14 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest third quarter was $28.5 million or $0.42 per share, compared to $11.7 million or $0.17 per share in the prior year quarter.

Net revenues for the third quarter increased 21% to $184.63 million from $152.38 million a year ago, while adjusted net revenues increased to $179.94 million from $147.69 million in the prior year period.

On average, analysts polled by Thomson Reuters expected the company to earn $0.32 per share on revenue of $178.68 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward, SINA estimates that its adjusted net revenues for the fourth quarter will be between $190 million and $194 million. Analysts currently expect the company to post revenue of $182.10 million for the fourth quarter.