Sina, Weibo quarterly results top Street views
U.S. shares of Sina Corp. rose in the extended session Monday while Weibo Corp. shares weakened after the Chinese online media companies topped Wall Street estimates. Sina shares rose 3.5% to $69.65 after hours, while Weibo shares shed 2.2% to $44.60. Sina reported adjusted third-quarter earnings of 56 cents a share on revenue of $274.9 million. Analysts surveyed by FactSet had forecast earnings of 37 cents a share on revenue of $265.7 million. Weibo, which is majority owned by Sina, reported adjusted earnings of 24 cents a share on revenue of $176.9 million. Analysts expected earnings of 17 cents a share on revenue of $173.4 million. Weibo said it expects fourth-quarter revenue of $205 million to $210 million, while analysts estimate $197.2 million.
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