Sina Delivered Strong 1Q Results; Increasing FVE to $110
Sina, the parent company of Weibo, released results that beat our estimates in the first quarter, largely due to Weibo’s strong earnings. We increased our fair value estimate for narrow-moat Sina to $110 per ADR from $94 after increasing our projection for Weibo’s advertising revenue, which was partly offset by our decreased projection for Sina’s portal business. Weibo posted 67% top-line growth and 681% operating income growth year over year, while Sina’s portal and other business saw a 0.7% to...Sina is an online media company serving China and the global Chinese communities. Co.'s digital media network includes SINA.com (It offers professional content on each of its region specific websites), SINA.com (It provides information and entertainment content from SINA portal customized for WAP users) and Weibo (It is a form of social media, featuring microblogging services and social networking services that allow users to connect and share information). Co. offers an array of services including mobile value added services, online video, music streaming, online games, photo sharing, blog, email, classified listings, fee-based services, e-commerce and enterprise services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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