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What: Shares of SINA (NASDAQ:SINA) have jumped today by as much as 11% after the company reported earnings.
So what: Revenue in the fourth quarter added up to $139.1 million, which was notably higher than the $133.9 million that investors were expecting. Non-GAAP net income was $9 million, or $0.13 per share, easily topping the consensus estimate of $0.05 per share. The company's Weibo micro-blogging service continues to gain traction.
Now what: Investors are optimistic that the company is making progress with monetizing Weibo, which now has over 500 million users. Weibo ad sales are on the rise and the service is easily the dominant micro-blogging service in China. First-quarter guidance calls for non-GAAP net revenue in the range of $115 million to $119 million, of which $94 million to $96 million should be ad sales.
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Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool recommends SINA. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.