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U.S. shares of Sina Corp. SINA, +1.44% rose in the extended session Monday while shares of Weibo Corp. WB, +3.65% struggled to hold onto slight gains after the Chinese online media companies topped Wall Street estimates. Sina (SINA) shares advanced 4% to $60.65, while U.S. shares of Weibo ticked 0.1% higher to $37.20 after hours. Sina reported adjusted second-quarter earnings of 27 cents a share on revenue of $244 million. Analysts surveyed by FactSet had expected earnings of 15 cents a share on revenue of $229.2 million. Sina raised its full-year revenue to a range of $950 million and $1 billion, while analysts expect $951.1 billion. Weibo, which is majority owned by Sina, reported adjusted earnings of 16 cents a share on revenue of $146.9 million. Analysts had estimated adjusted earnings of 11 cents a share on revenue of $146.7 million. Weibo expects third-quarter revenue of $168 million to $173 million, while analysts estimate $164.6 million.
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