Sina Corporation (SINA)
Chinese citizens love the Internet, mobile devices and social networking. One company perfectly positioned in this space is the “Chinese Twitter,” a.k.a. Sina (SINA).
On Wednesday, Nov. 13, Sina stock spiked some 13% after the company reported blowout Q3 earnings and revenue. The Chinese Internet portal and micro-blogging service reported adjusted EPS of 37 cents per share and revenue of $184.6 million. Both metrics came in firmly above consensus estimates, as did the company’s raised Q4 guidance.
Although there has been a slowdown in economic growth in China, that slowdown hasn’t affected China’s Internet and social networking embrace … and that’s good news for SINA.