NEW YORK (TheStreet) -- Shares of Sina (SINA - Get Report) were flat in after-hours trading on Monday after the China-based online media company posted better-than-expected 2016 second-quarter results after today's closing bell.
Sina posted earnings of 27 cents per share, surpassing analysts' projected 15 cents per share. Revenue increased 14% year-over-year to $244 million, which exceeded analysts' estimations of $231.69 million.
The company reported earnings of 6 cents per share and $210.99 million in revenue for the 2015 second quarter.
Advertising revenues grew 16% year-over-year to $205 million, as a result of a $34.8 million increase in Weibo advertising and marketing revenues. Weibo is the company's microblogging website.
"For our portal business, we witness sustainable growth of mobile traffic, with daily active users of SINA News application increasing significantly quarter over quarter," said Sina CEO Charles Chao in a statement. "Mobile monetization for portal has further elevated, with 48% of total portal advertising revenue from the mobile devices."
Sina forecasts its full-year revenue to be between $950 million and $1 billion, an increase from its previous guidance range of $850 million to $950 million.
Wall Street is looking for Sina to post full-year revenues of $951.56 million in 2016.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate SINA CORP as a Hold with a ratings score of C+. 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 increase in net income, revenue growth and expanding profit margins. However, as a counter to these strengths, we find that the company's return on equity has been disappointing.
You can view the full analysis from the report here: SINA