SINA Corp. Expects FY19 Net Revenues To Rise 18%-25% - Quick Facts

(RTTNews) - SINA Corp. (SINA) announced, for the fiscal 2019, the company estimates its net revenues are between RMB 16.5 billion and RMB 17.5 billion, or $2.44 billion and $2.59 billion. It represents an annual growth rate of 18% to 25% on a constant currency basis. The company noted that its revenue forecast includes the recognition of $10.4 million in deferred license revenues related to the license granted to Leju.

For fiscal year 2018, SINA reported net revenues of $2.11 billion, an increase of 33% compared to $1.58 billion in 2017. Non-GAAP net revenues were $2.10 billion, an increase of 33% compared to $1.57 billion in 2017. Advertising revenues in 2018 were $1.79 billion, an increase of 36% compared to $1.31 billion in 2017, primarily driven by 50% growth in Weibo advertising and marketing revenues. Non-GAAP diluted net income per share attributable to SINA's ordinary shareholders in 2018 was $3.07, compared to $2.77 in 2017.