SINA Corp reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
SINA Corp announced earnings per share of $0.25 on revenue of $432.4M. Analysts polled by anticipated EPS of $0.09 on revenue of $386.8M. That with comparison to EPS of $0.4 on revenue of $472.53M in the same period a year before. SINA Corp had reported EPS of $1.17 on revenue of $590.71M in the previous quarter. Analysts are expecting EPS of $0.57 and revenue of $483.34M in the upcoming quarter.
SINA Corp shares are down 13% from the beginning of the year , still down 29.35% from its 52 week high of $48.86 set on May 21, 2019. They are under-performing the Nasdaq which is up 2.16% year to date.
SINA Corp follows other major Technology sector earnings this month
SINA Corp's report follows an earnings beat by Microsoft on April 29, who reported EPS of $1.4 on revenue of $35.02B, compared to forecasts EPS of $1.27 on revenue of $33.66B.
Apple had beat expectations on April 30 with second quarter EPS of $2.55 on revenue of $58.31B, compared to forecast for EPS of $2.24 on revenue of $54.78B.
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