Sina Shares Rise 6% After Hours On Strong Q4 Earnings As It Promotes Former Cisco VP To CTO & Co-President

Despite investors' concerns over a slowing online advertising market in China, Sina's managed to post Q4 revenue that exceeded analysts' expectations, though its earnings fell 74 percent from a year earlier. Investors were encouraged by Sina's results, however, as the company's shares jumped six percent to $56.50 after hours. Sina's stock price has dropped 13.4 percent since the beginning of the fourth quarter, falling along the shares of peers like Baidu and Sohu.com due to a weaker economy.

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