SINA Corporation has released its unaudited financial results for the first quarter ended March 31, 2016.

The leading online media company serving China and the global Chinese communities earned $198.70 million during the quarter, compared to the consensus estimate of $189.47 million. The business’s revenue was up 7.6 percent on a year-over-year basis.

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SINA has been the target of several business research reports. Zacks Investment Research restated a “hold” rating on shares of SINA Corp in a research note. In February, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $52.00 target price on shares of SINA Corp. Brean Capital gave a “buy” rating and set a $55.00 target price on shares of the Chinese company. In addition, there are eight other investment analysts that rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Currently, SINA Corp has an average rating of “Buy” and a consensus target price of $52.58.

The company operates its business through three business segments: SINA Portal, Weibo and other businesses. It includes digital media network of SINA.com, SINA mobile and Weibo.

“We are delighted to have a good start of 2016, with Weibo continuing to show strong momentum on both operational and financial results,” said Charles Chao, Chairman and CEO of SINA.

SINA.com offers professional content on each of its region-specific Websites and a range of complementary offerings. Its mobile portal SINA.cn distributes news information and entertainment content from SINA.com, which is customized for smartphone users in mobile browser and mobile application format such as SINA News SINA Sports SINA Finance SINA Entertainment and SINA Blog. Weibo is a social media platform for people to create distributes and discovers Chinese-language content.

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