Affected by the earnings report, SINA stock price surged in Tuesday’s fater-hours trading session, As of the release of the article, SINA stock price has reported a gain of 7.64%. SINA stock price dropped 1.09%, or $0.57, to finish at $51.68 per share in the regular trading session on Tuesday.
The company issued the first quarter financial report after the closing bell on Tuesday. Excluding non-recurring items, the company posted a Q1 net loss per share of $0.21, better than Capital IQ had expected a net loss of $0.23 per share; non-GAAP revenue of $101.5 million, lower than the 105.5 million Capital IQ had estimated; Sina expects the Non-GAAP net revenue of between $126 million to $129 million for the second quarter of 2012, lower than the $132 million that Capital IQ had estimated.
Sina CEO Chao said that the advertising weakness and microblogging operating expenses increased the losses in the first quarter, but the under-testing microblogging brand advertising business will substaintially impact the whole business in the second half of this year.
Over the past 52 weeks, SINA stock prices fluctuated between $46.86-$128.17 per share. The company currently commands a market value of $3.41 billion.