Sina (SINA) slipped during pre-market trading, after the company reported its second quarter earnings and set its third quarter guidance.
The stock was down $1.99 just after 9:05 am ET, dipping to $41.95. If pre-market losses hold, the stock will open at its lowest level in two weeks.
Sina reported net income for the second quarter of $25.2 million or $0.42 per share, compared to $14.5 million or $0.25 per share in the same period last year and $16.1 million last quarter.
Non-GAAP net income for the second quarter of 2008 was $26.2 million or $0.43 per share, compared to $16.1 million or $0.27 per share in the same period last year.
Net revenues rose to $91.3 million from $59.8 million in the prior year quarter.
Analysts polled by First Call/Thomson Financial expected the company to earn $0.40 per share for the quarter on revenue of $89.53 million.
The company estimates its total revenues for the third quarter to be between $100 million and $104 million. Street expects revenue of $98.30 million for the quarter.
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