Chinese internet stocks Sina (SINA) and Weibo (WB) are both trading at all-time highs after reporting upside first quarter results this morning.
Sina seems most comparable to China's Yahoo!, where Baidu (BIDU) is China's Google.
Sina reported non-GAAP earnings per American Depository Share (ADS) of $0.50 versus negative $0.04 last year; revenue rose 40% to $278 mln. Advertising revenue rose 40% to $228 mln.
Sina owns 49.8% of Weibo (WB) and Alibaba (BABA) owns 31% of Weibo.
Weibo is a social media platform in China, similar to Twitter. Its biggest competitor is Tencent (TCEHY).
Weibo reported blow out first quarter results and guided second quarter revenue above expectations. First quarter revenue was up 67% to $199 million with advertising and marketing revenue up 71% to $169 mln.
Monthly active users (MAU) were up 30% to $340 million, 91% of which are mobile users. Daily active users were up 28% to 154 million in March.
Sina trades with an enterprise value of ~15x EBITDA estimates for 2017. Weibo has a ~$17 billion valuation and trades with an enterprise value of ~45x EBITDA estimates for the year.