SINA Corp (NASDAQ: SINA) is off to an overwhelmingly strong start to the day in the pre-market hours this morning, and for good reason. The company reported earnings for the first quarter, blowing away both top and bottom line expectations. Of course, this led to excitement among investors, causing gains in the stock and prompting our partners at Trade Ideas to alert us to the movement. At the moment (8:54), SINA is trading at $90.71 per share after a gain of $6.67 per share or 7.94% thus far today.
SINA Gains On Earnings
As mentioned above, SINA Corp is having an overwhelmingly strong day in the market today, and for good reason. The company reported earnings, blowing away expectations in all respects. Here’s what we saw from the report…
- Earnings Per Share – In terms of earnings per share, SINA did overwhelmingly well. While analysts expected that the company would generate earnings in the amount of $0.14 per share, they actually reported earnings in the amount of $0.50 per share; blowing away expectations.
- Top-line Revenue – The company didn’t disappoint when it came to revenue either. During the first quarter, it was expected that SINA would generate revenue in the amount of $265.07 million. However, the company actually reported revenue in the amount of $278.1 million. Once again, the figure blew away expectations.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on SINA. In particular, we’re interested in following the company through continued growth. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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