Sina Q4 Profit Surges

(RTTNews) - Chinese online media company Sina Corp. (SINA), Monday reported fourth-quarter net income of $44.5 million or $0.59 per share, up from $2.4 million or $0.03 per share last year.

Adjusted earning for the quarter rose to $33.0 million or $0.47 per share from $9.0 million or $0.13 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose to $197.0 million from $139.1 million last year. Adjusted revenues were $192.3 million, compared to $134.4 million for the same period last year. Analysts estimated revenues of $191.93 million for the quarter.