SINA Q4 Results Top Estimates

(RTTNews) - SINA Corp. (SINA) reported net income for the fourth quarter of $59.8 million or $0.90 per share, compared to $44.5 million or $0.59 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $15.9 million or $0.24 per share, compared to $33.0 million or $0.47 per share in the prior year quarter.

Net revenues for the fourth quarter rose to $211.1 million from $197.0 million a year ago, while adjusted net revenues for the quarter increased to $208.5 million from $192.3 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.18 per share on revenue of $207.61 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts full year 2015 adjusted net revenues of $800 million to $900 million, which exclude the recognition of $10.4 million in deferred license revenues from E-House. Analysts currently expect the company to post revenue of $884.59 million for the full year 2015.