SINA Corp. Q3 Profit Tops Estimates: Non-GAAP Revenue Up 1% - Quick Facts

(RTTNews) - SINA Corp. (SINA), an online media company serving China and the global Chinese communities, reported non-GAAP net income per share for the third quarter of 2019 of $0.94, compared to $0.93 for the same period last year. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.59, for the quarter. Analysts' estimates typically exclude special items.

Third-quarter non-GAAP net revenues increased 1% year-over-year to $558.8 million, an increase of 5 percent on a constant currency basis. Analysts expected revenue of $555.6 million, for the quarter. Advertising revenues were $461.1 million, a decrease of 5 percent compared to $483.8 million for the same period last year, primarily due to a decline in portal advertising revenues and negative currency translation impact.