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Wednesday, August 8, 2018

-=SINA (SINA) reported earnings on Wed 8 Aug 2018 (b/o)



SINA beats by $0.17, reports revs in-line 
  • Reports Q2 (Jun) earnings of $0.89 per share, excluding non-recurring items, $0.17 better than the Capital IQ Consensus of $0.72; revenues rose 49.7% year/year to $537.36 mln vs the $538.1 mln Capital IQ Consensus.
  • Gross margin for the second quarter of 2018 was 80%, compared to 74% for the same period last year. Advertising gross margin for the second quarter of 2018 was 82%, compared to 76% for the same period last year. The increase in advertising gross margin was mainly resulted from our revenue reporting changed from gross basis to net basis under the new accounting standard adopted. Non-advertising gross margin for the second quarter of 2018 was 69%, compared to 68% for the same period last year.
  • SINA's board of directors has approved a new share repurchase plan whereby SINA is authorized to repurchase its own ordinary shares with an aggregate value of up to $500 million for a period through the end of December 2019.

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