SINA Corporation’s SINAfirst-quarter 2018 non-GAAP earnings of 47 cents per share beat the Zacks Consensus Estimate by a couple of cents but declined 3 cents from the year-ago quarter.
Net revenues grew 59% to $441 million and beat the Zacks Consensus Estimate of $440 million. Non-GAAP net revenues also grew 59% to $438.
Quarter Details
Advertising revenues surged 61% year over year to $367.1 million, driven by the momentum in the Weibo segment. Non-advertising (non GAAP) revenues increased 50% year over year to $71.1 million driven by growth in fintech business as well as increased revenues from Weibo gaming and membership.
Revenues from Weibo business surged 75.6% year over year to $349.8 million. Monthly active users increased 20.7% from the year-ago quarter to 411 million, driven by an increasing number of mobile users. At the end of the quarter, daily active users went up to 184 million, up 19.5% from the year-ago quarter.