SINA Stock Climbs in After-Hours Trading Following Earnings Beat

SINA shares are rising after the company beat analysts' top and bottom line expectations.
By Tony Owusu ,

NEW YORK (TheStreet) -- Shares of SINA  (SINA) - Get Report are up by 2.86% to $51.80 in after-hours trading on Wednesday, following the release of the company's 2015 third quarter earnings results after the close today.

The Chinese online media company reported third quarter net income of $9.8 million, or 39 cents per share, topping analysts' 21 cents per share expectations.

Revenue for the period rose by 14% year over year to $226.3 million, also beating analysts' $220.4 million forecast for the period.

"We are pleased with SINA's overall results in the macro headwinds. For Weibo's business, we continue to see strong performance on both operational and financial fronts," CEO Charles Chao said in a statement. "Weibo (WB) - Get Report continues to be on track to execute its core strategies to grow user base and enhance user engagement, capitalize the shift to mobile, and optimize advertising offerings to better serve the ever-growing customer community at various dimensions."

Separately, TheStreet Ratings team rates SINA CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

We rate SINA CORP (SINA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and feeble growth in the company's earnings per share.

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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