SINA Corp. (SINA) Thursday said first-quarter loss narrowed slightly to $13.2 million or $0.20 per share from $13.7 million or $0.21 per share in the same period last year.
Adjusted earnings attributable to SINA was $1.5 million or $0.02 per share. On average, 13 analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $126.0 million, up from $106.2 million last year. Adjusted revenues were $121.3 million. Analysts expected revenues of $117.54 million.
Gross margins improved to 51 percent from 46 percent last year.
Looking ahead to the second quarter, the company targets adjusted revenues in a range of $143 million to $147 million. Analysts currently expect revenues of $142.66 million for the second quarter.
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