Tag Archives: sina

Sina Upgrade Cites Its ‘Decreased Reliance’ On Weibo

Sina (SINA) stock rose Monday after being upgraded by a pair of investment banks, with one saying the company’s investments should support a climb in its stock price. “When looking at Sina’s investment and asset portfolio, we see limited downside for the stock even when excluding contribution from Weibo,” wrote Pacific Crest analyst Cheng Cheng. Sina has filed to spin off its Twitter-like Weibo microblog in a U.S. initial public offering, among

Sina Weibo Turns First Profit On Revenue Spike

Sina’s (SINA) popular Weibo for the first time turned an operating profit as ad sales on the network spiked 163% in Q4, but it plans more heavy investment in the microblog site. The profit was $3 million, Sina CEO Charles Chao told analysts on the company’s earnings conference call late Monday. “This is an important milestone for us,” Chao said. Sina reportedly plans a U.S. IPO for Weibo, looking to raise about $500 million, according to the

Sina Weibo Use Down Amid Chinese Government Crackdown

Sina’s (SINA) Weibo microblogging site lost users in 2013 amid a government crackdown, says a government report that sent China tech stocks lower on Friday. Sina stock was down 6% in midday trading in the stock market today, more than the other China microblog operators traded in the U.S. Sohu.com (SOHU), Baidu (BIDU) and NetEase (NTES) stocks were all down more than 1%. “We believe tight government oversight will stay for the mid to long term,”