China is getting ready for its close-up when the Olympic Games kick off tomorrow in Beijing, but SINA
SINA had another robust quarter, with revenue rising 53% to $91.3 million. Earnings soared by 74% to $0.42 a share. The results exceeded Wall Street's expectations, but that's practically a given these days. Not only have most of SINA's Chinese peers obliterated analyst guesstimates lately, but SINA has also finished ahead of Wall Street's profit targets in each of the past 10 quarters.
Online advertising rose sharply, but the real surprise is that even the company's once-moribund mobile value-added services posted a healthy 44% year-over-year advance.
SINA, Sohu, and NetEase scrambled in different directions for diversification. NetEase became a leader in online gaming, while SINA and Sohu beefed up their online portals.
Web-based advertising is still a winner in China. Sohu, Baidu.com
Outdoor-advertising companies such as Focus Media
The Olympics will come and go, and an improving economy will stick around and help propel the prospects of quality companies such as SINA. I don't know how many gold medals are in Beijing right now, but SINA has certainly earned one.
SINA is a Motley Fool Stock Advisor recommendation. Baidu.com, NetEase, and Focus Media are Rule Breakers picks. Find out what other international picks the growth-stock newsletter services like with free 30-day trial subscription offers.
Longtime Fool contributor Rick Munarriz has been a fan of China's high-margin online stocks for a long time. He owns no shares in any of the companies in this story and is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.