| | Sina -3.2%, Weibo +1.9% following results/guidance • 4:52 PM
Eric Jhonsa, SA News Editor
- Though it beat Q3 estimates, SINA expects Q4 revenue of $204M-$210M, below a $214.8M consensus. On the other hand, majority-owned Weibo (NASDAQ: WB) expects Q4 revenue of $102M-$105M, above a $100.6M consensus.
- Thanks to Weibo, Sina's Q3 ad revenue rose 10% Y/Y to $166.8M, and its non-ad revenue rose 3% to $29.2M. However, portal ad revenue fell by $6.5M Y/Y, and mobile value-added service revenue fell by $7.4M.
- Sina's Q3 gross margin was 63%, +200 bps Q/Q and -100 bps Y/Y. Opex rose 40% Y/Y to $127.1M, handily exceeding revenue growth of 9%.
- Weibo's ad/marketing revenue rose 50% Y/Y to $65.4M, and its value-added services revenue (boosted by its Alibaba partnership) 93% to $18.8M. Costs/expenses rose 51% to $87.8M, slightly trailing revenue growth of $84.1M.
- Weibo monthly active users rose 7% Q/Q and 36% Y/Y to 167M. Daily active users rose 10% Q/Q and 30% Y/Y to 76.6M.
- Sina: Q3 results, PR. Weibo: Q3 results, PR.
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