SINA Corporation (NASDAQ: SINA) announced its third-quarter financial results back in November. The company reported third-quarter net revenue of $108.2 million, representing an increase of 12% on a year-over-year basis.
SINA reported non-GAAP net revenue of $103.6 million for the third quarter of 2010, representing an increase of 20% over the same period in 2009. The company�s non-GAAP revenue came in at the high-end of its guidance of $101-$104 million. SINA�s advertising revenue jumped 27% on a year-over-year basis to $81 million in the third quarter of 2010. The company�s non-GAAP advertising revenue climbed 50% on a year-over-year basis to $81 million. SINA reported non-advertising revenue of 427.3 million.
SINA reported third-quarter net income of $31.3 million, or $0.48 per share. The company�s non-GAAP net income jumped 65% on a year-over-year basis to $33.2 million.
SINA expects fourth-quarter net revenue on a non-GAAP basis to come in between $103 million and $106 million. The company expects non-GAAP advertising revenue to come in between $81 million and $83 million in the fourth quarter of 2010. It projects non-GAAP non-advertising revenue to come in between $22 million and $23 million.
SINA shares have a 52-week range of $32-$92.84. The stock is currently trading above its 50-day and 200-day moving averages. In the last one year, SINA shares gained 150.4%. Year-to-date, the stock is up 30.44%.
SINA is a China-based online media company and MVAS provider. The company offers its services through five business lines, including SINA.com, SINA Mobile, SINA Community, SINA.net and SINA E-Commerce.
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