SINA Corporation’s SINA first-quarter 2018 non-GAAP earnings of 47 cents per share beat the Zacks Consensus Estimate by a couple of cents but declined 3 cents from the year-ago quarter.Net revenues grew 59% to $441 million and beat the Zacks Consensus Estimate of $440 million. Non-GAAP net revenues also grew 59% to $438.1 million.Quarter DetailsAdvertising revenues surged 61% year over year to $367.1 million, driven by the momentum in the Weibo segment. Non-advertising (non GAAP) revenues increased 50% year over year to $71.1 million driven by growth in fintech business as well as increased revenues from Weibo gaming and membership.Revenues from Weibo business surged 75.6% year over year to $349.8 million. Monthly active users increased 20.7% from the year-ago quarter to 411 million, driven by an increasing number of mobile users. At the end of the quarter, daily active users went up to 184 million, up 19.5% from the year-ago quarter.Weibo non-ad revenues grew 57% to $46.9 million on the back of increased membership and gaming revenues. Weibo's ad and marketing revenues grew 79% to $302.9 million in the reported quarter.Portal advertising revenues were up 7% year over year to $64.1 million driven by increased mobile transition and monetization. Mobile app revenues for portal accounted for 77% of total portal ad revenues compared with 53% in the year-ago quarter. The upside is attributed to growth in mobile traffic for SINA News and Finance applications. Daily Active Users for News app and Finance app increased 31% and 40%, respectively.Portal non-advertising revenues increased 38% to $24.1 million. However, stricter regulation in micro-lending sector continues to remain an overhang.Sina Corporation Revenue (TTM) Sina Corporation Revenue (TTM) | Sina Corporation QuoteMarginsNon-GAAP operating income was $94.6 million, which surged 49% year over year. However, non-GAAP operating margin of 22% declined 100 basis points from the year-ago quarter.Increase in sales and marketing expenses to increase Weibo and SINA news app users and a rise in product development cost remain dampeners.Balance Sheet and Cash FlowSINA exited the quarter with cash & cash equivalents (including short-term investments & restricted cash) of $3.64 billion compared with $3.59 billion as of Dec 31, 2017.Cash provided by operating activities in the quarter was $54.9 million. Capital expenditure was $36.2 million.Sina Corporation Price, Consensus and EPS Surprise Sina Corporation Price, Consensus and EPS Surprise | Sina Corporation QuoteZacks Rank & Stocks to ConsiderSINA currently carries a Zacks Rank #5 (Strong Sell).Some better-ranked stocks in the broader technology sector include Lam Research Corporation LRCX, Micron Technology MU and Western Digital WDC, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.Long-term earnings growth rate for Lam Research, Micron and Western Digital is projected to be 17.7%, 10% and 19%, respectively.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Western Digital Corporation (WDC): Free Stock Analysis Report Sina Corporation (SINA): Free Stock Analysis Report Micron Technology, Inc. (MU): Free Stock Analysis Report Lam Research Corporation (LRCX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research