Why This Chinese Internet Giant Is Ready to Be the Next Big Thing

Despite the shadow of a sluggish Chinese economy and Alibaba's stock price plummet, online enterprise Sina (SINA) has delivered yet another market-beating performance.

Sina's Weibo, which is like a hybrid between Facebook and Twitter, has delivered robust growth.

Although Alibaba and JD.com are purely ecommerce plays,and Baidu is often viewed as a Chinese Google, which is owned by Alphabet, there is a definite gap in the social-network area.

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Sina with its valuable assets is fast replacing that missing link. The stock is poised to richly reward investors who get aboard now.

The Beijing-based company reported third-quarter net income of $146.5 million or $1.90 a share. Non-generally accepted accounting principles earnings came in at 56 cents a per share, compared with analysts' projection of 35 cents a share and 39 cents a share a year earlier.

Third-quarter revenue of $274.9 million was up 21% year over year and easily surpassed analysts' consensus estimates of $265 million.

Sina's majority stake in micro-blogging platform Weibo has delivered substantial rewards.

Quarterly advertising growth of 21% for Sina was driven by Weibo's strong advertising.

Weibo's monthly active users in September grew 34% to $297 million from a year earlier, within range of Twitter's $313 figure.

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