Weibo-Parent Sina Tops Earnings Estimates

China-based Sina (SINA) reported first-quarter earnings before the market open Wednesday that cleared Wall Street estimates.

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Sina, which runs a popular internet portal, reported revenue of $ 440.75 million, up 58.5% vs. a year earlier. That topped analyst estimates for $ 433 million. It reported adjusted earnings of 47 cents a share, beating the consensus of 42 cents.

Sina owns a majority stake in social network Weibo (WB). Weibo also topped earnings estimates early Wednesday.

Shares of Sina were not yet active before the open on the stock market today. Weibo fell 4%.

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