China Web Firms Sina, Weibo, Autohome Top Third-Quarter Views

China Web Firms Sina, Weibo, Autohome Top Third-Quarter Views

China internet company Sina ( SINA ) reported quarterly earnings before the market open Tuesday, along with Weibo ( WB ) and Autohome ( ATHM ), with all of them topping expectations.

[ibd-display-video id=2532006 width=50 float=left autostart=true]Sina, which provides a popular internet portal, reported revenue of $443 million, up 62% from the year-ago period and above the consensus estimate of $410 million. It reported adjusted earnings of 77 cents per share, up 37% and above the consensus estimate of 73 cents, as polled by Zacks Investment Research.

Sina shares were down 10%, however, near 98.80 during morning trading in the stock market today .

Sina owns a controlling stake in Weibo, called the Twitter of China, which reported revenue of $320 million, up 81% from the year-ago period. It reported adjusted earnings of 51 cents per share, more than double the year-ago period.

Both are pioneering China internet companies but have also been targeted by activist investors seeking to shake up their board of directors and ignite major changes. Weibo said it added 79 million monthly active users, for a total of 376 million.

Weibo shares also were down, falling 4%, near 95.55.

For the fourth quarter of 2017, Weibo estimates that its net revenues to be between $355 million and $365 million, above the consensus of $351 million.

IBD’S TAKE: U.S.-listed China-based firms, particularly those that cater to China’s booming internet population, aren’t suffering from lack of growth. Bookmark this page to stay on top of latest movers and shakers in China.

Autohome, which provides an internet platform for consumers focused on the automotive market, reported third-quarter revenue of $232.7 million, beating the consensus estimate of $226.8 million and up 5% from the year-ago quarter. It reported adjusted earnings of 60 cents per share, beating the consensus estimate of 56 cents, as polled by Zacks Investment Research and up 58% from the year-ago quarter.

Autohome shares were up 5%, near 62.25.

For the current quarter Autohome estimates revenue in the range of $254 million to $257 million. The consensus estimate of $256.7 million is above the midpoint of $256.7 million.

RELATED:

Joined At The Hip With Weibo, Future Of Aging Sina Is At Stake

Best Chinese Stocks To Buy And Watch

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Related posts