SINA
The Chinese dot-com darling posted mixed results in its latest quarter. SINA's adjusted top line grew 23% to $128.7 million, but its adjusted profit was shaved by more than half to $0.21 a share.
Analysts saw this coming. Ironically enough, it's actually SINA's non-GAAP revenue that fell short of the $129.3 million that Wall Street was targeting. The pros nailed the bottom line.
It's not easy being SINA. The company's throwing a lot of money at its fast-growing Weibo site that has emerged -- for better or worse -- as the Twitter of China.
SINA has also been nibbling on some of its publicly traded peers. It acquired a 9% stake in video-sharing website Tudou
It's sitting on a potential gold mine with Weibo, but might it be a land mine instead? Chinese regulators are pondering ways to put the clamps on China's Web 2.0 darlings.
This is a problem that won't go away until the government makes a decision. Renren
SINA is projecting $101 million to $104 million in non-GAAP revenue for the current quarter. Yes, that's considerably below SINA's fourth-quarter showing, but there is seasonality in cyberspace when it comes to the world's most populous nation. However, SINA's top-line prognosis is still quite light, representing a mere 6% to 9% year-over-year advance.
Now that SINA's top line is starting to decelerate, investors better hope that its bottom line is ready to shine again.
Now you SINA…
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