NEW YORK (TheStreet) --Sina Corp (SINA) stock is dropping Thursday after the China-based social network reported first-quarter net income below analysts' estimates. By market open, shares had tumbled 7.2% to $44.44.
Over the three months to March, Sina earned 15 cents a share, a penny less than what analysts surveyed by Thomson Reuters expected.
Second-quarter revenue also missed estimates. The company expects to generate sales between $177 million and $182 million in its June-ended quarter, below consensus of $195.39 million.
TheStreet Ratings team rates SINA CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate SINA CORP (SINA) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself."
- You can view the full analysis from the report here: SINA Ratings Report