SINA Corporation SINA reported second-quarter 2019 non-GAAP earnings of 76 cents per share that crushed the Zacks Consensus Estimate by a whopping 34 cents. However, the figure declined 15.1% from the year-ago quarter.Non-GAAP net revenues declined 0.8% year over year to $530.4 million. Nevertheless, the figure beat the consensus mark of $513 million.At constant currency (cc), non-GAAP revenues increased 5% year over year.Quarter DetailsAdvertising revenues (81.7% of revenues) decreased 4.5% year over year (up 1% at cc) to $433.6 million due to a decline in portal advertising revenues.Non-advertising revenues (18.3% of total revenues) increased 19.4% year over year to $99.4 million. The growth was driven by robust performance from Weibo's live streaming business and higher revenues generated from SINA’s fin-tech businesses.Sina Corporation Price, Consensus and EPS Surprise Sina Corporation price-consensus-eps-surprise-chart | Sina Corporation QuoteRevenues from the Weibo business grew 1.2% year over year to $431.8 million. The company added 21 million users sequentially, reaching MAUs of 486 million.Weibo’s advertising & marketing revenues increased 0.2% year over year (up 6% at cc) to $370.7 million. Weibo’s VAS revenues rose 8% to $61.2 million.Portal advertising revenues fell 25.2% year over year (down 21% at cc) to $63 million due to lower ad spending by SME customers. Other revenues jumped 42.8% to $43.7 million.Operating DetailsSINA reported a second-quarter non-GAAP gross profit of $408.8 million, down 5.2% year over year.Gross margin of 77.1% contracted 360 basis points (bps) on a year-over-year basis to 77.1%. Advertising gross margin shrank 200 bps to 81%. Non-advertising gross margin was 60%, down from year-ago quarter’s 68%.Portal gross margin contracted 300 bps on a year-over-year basis to 55%. Weibo gross margin was 81%, significantly down from 86% posted in the year-ago quarter.Sales and marketing expenses were $147.7 million, down 19.5% year over year. Product development expenses were $92 million, reflecting an increase of 9.7%. Moreover, general and administrative expenses surged 57.9% to $43 million.Operating expenses (48.3% of revenues) on a non-GAAP basis were $256 million, down 5.9% year over year.Non-GAAP operating income was $152.8 million, down 4% year over year (up 5% at cc). Operating margin of 28.8% shrank 90 bps on a year-over-year basis.Balance Sheet and Cash FlowAs of Jun 30, 2019, cash, cash equivalents and short-term investments were $2.15 billion.While net cash provided by operating activities was $128.6 million in the second quarter, capital expenditures totaled $5 million.Zacks Rank & Stocks to ConsiderCurrently, SINA carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader computer & technology sector are Chegg CHGG, Paylocity Holding PCTY and Cirrus Logic CRUS, all three sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Long-term earnings growth rate for Chegg, Paylocity and Cirrus is 30%, 20% and 15%, respectively.Legalizing THIS Could Be Even Bigger than MarijuanaAmericans spend an estimated $150 billion in this industry every year… more than twice as much as they spend on marijuana.Now that 8 states have fully-legalized it (with several more states following close behind), Zacks has identified 5 stocks that could soar in response to the powerful demand. One industry insider described the future as “mind-blowing” – and early investors can still get in ahead of the surge.See these 5 “sin stocks” now >>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 Sina Corporation (SINA): Free Stock Analysis Report Paylocity Holding Corporation (PCTY): Free Stock Analysis Report Chegg, Inc. (CHGG): Free Stock Analysis Report Cirrus Logic, Inc. (CRUS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research