Sina ( SINA), an online media provider targeting China and Chinese users, saw its shares climb sharply after the company raised its revenue and earnings guidance and laid out plans for a debt offering.

For the quarter that ends today, Sina expects revenue of $24 million to $25 million and earnings of 13 cents to 15 cents a share. Previously, the company estimated revenue would be between $19.6 million and $20.3 million with a profit of 8 cents to 9 cents a share.

Thomson First Call carries an estimate from only one analyst, who is expecting 9 cents a share. Sina plans to post its quarterly results on July 23.

Separately, Sina said it plans to offer $80 million of convertible subordinated notes due 2023. The final terms of the notes will be determined by negotiations between the company and the initial purchasers of the notes. Sina expects to grant the initial purchasers an overallotment option to buy up to $20 million more of the notes.

The company said it will use the proceeds from the offering for general corporate purposes, including working capital, capital expenditures and potential future acquisitions.

Shares of Sina were gaining $2.87, or 16%, to $20.37 in recent Nasdaq trading.

More from Technology

Worries About a Trade War Could Throw Wrench Into the Tech Stock Rally

Worries About a Trade War Could Throw Wrench Into the Tech Stock Rally

5 Stock Picks Under $10 for Millennials

5 Stock Picks Under $10 for Millennials

3 Apps Than Make Retirement Planning Fun for Millennials

3 Apps Than Make Retirement Planning Fun for Millennials

Decision on AT&T's Merger With Time Warner Marks a Monumental Week for M&A

Decision on AT&T's Merger With Time Warner Marks a Monumental Week for M&A

3 Things Amazon Still Hasn't Figured Out At Whole Foods 1 Year In

3 Things Amazon Still Hasn't Figured Out At Whole Foods 1 Year In