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Sina Corporation Q1 adjusted earnings Beat Estimates

Sina Corporation (SINA) reported a profit for its first quarter that advanced from last year.

The company's earnings came in at $82.44 million, or $1.21 per share. This compares with $33.08 million, or $0.46 per share, in last year's first quarter.

Excluding items, Sina Corporation reported adjusted earnings of $17.04 million or $0.25 per share for the period.

Analysts had expected the company to earn $0.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.4% to $435.05 million from $475.14 million last year.

Sina Corporation earnings at a glance:

-Earnings (Q1): $17.04 Mln. vs. $28.85 Mln. last year.
-EPS (Q1): $0.25 vs. $0.40 last year.
-Analysts Estimate: $0.07
-Revenue (Q1): $435.05 Mln vs. $475.14 Mln last year.

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