SINA ($47~$43~?) ups Q4 revenue by 197% ...but SOHU guides down to low end of trgt (-$7 to $30)
By Shawn Langlois, CBS.MarketWatch.com
Last Update: 5:36 PM ET Feb. 3, 2004
Sina.com (SINA: news, chart, profile) posted a net profit of $9.3 million, or 16 cents a share, up from $1.5 million, or 3 cents a share, a year ago.
Revenue grew by 197 percent to $38.3 million, topping targets by $2.3 million.
Excluding charges, the company earned 28 cents a share, vs. 4 cents a share a year earlier. Analysts polled by Reuters Research expected a profit of 24 cents a share.
Looking ahead, Sina.com pegs first-quarter earnings per share at between 27 cents and 29 cents on total sales in a range of $39.5 million to $40.5 million.
"Not only will we continue to focus on our two core businesses of online advertising and mobile value-added services," said COO Hurst Lin in a statement, "we will be stepping up our efforts in e-commerce as is evidenced by our entry into online travel and auction through the acquisition of Fortune Trip and joint venture with Yahoo (YHOO: news, chart, profile), respectively."
Earlier, shares of Sohu.com (SOHU: news, chart, profile) closed down $7.50, or 19.8 percent, at $30.41 after the company said fourth-quarter revenue grew only to the low end of its target range. See full story.
Sina.com shares finished off $3.79, or 8.1 percent, at $43.10 before moving above $44 in after-hours trading.
Shawn Langlois is a reporter for CBS.MarketWatch.com, and the editor of its community message boards. |
