Weibo Still Sina's Key Growth Engine; Increasing FVE to USD 94
Sina announced strong fourth-quarter results thanks to the earnings beat of its Weibo business. Net revenue increased 22.3% in the fourth quarter, and full-year non-GAAP revenue, excluding deferred license revenue, was 2% higher than the high end of company guidance. The company guided to strong non-GAAP revenue growth in 2017 of 27.4%-41.2%. We are increasing our fair value estimate to USD 94 per ADR from USD 88 and maintain our narrow moat and stable moat trend ratings because of the strong ne...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.
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