China’s Sina Reports Q1 2012 Results: Net Revenue Was $106.2 Million, Up By 6% Year-On-Year

Posted on May 16 2012 - 8:46am by Editorial Staff

Sina Tech, an online media company serving China and the global Chinese communities, has announced its unaudited financial results for the first quarter ended March 31, 2012. The net revenues increased 6% year over year to $106.2 million. Non-GAAP net revenues increased 6% year over year to $101.5 million, within the Company’s guidance of between $101.0 million and $104.0 million. Advertising revenues grew 9% year over year to $78.5 million, within the Company’s guidance of between $78.0 million and $80.0 million.

Non-advertising revenues were $27.7 million, unchanged year over year. Non-GAAP non-advertising revenues decreased 1% year over year to $23.0 million, within the Company’s guidance of between $23.0 million and $24.0 million. Net loss attributable to SINA was $13.7 million, or $0.21 diluted net loss per share attributable to SINA. Non-GAAP net loss attributable to SINA was $14.0 million, or $0.21 non-GAAP diluted net loss per share attributable to SINA.

“We may still incur operating loss in the second quarter as we continue to invest in our Weibo platform. Our operating results this year may continue to suffer,” said Charles Chao, Sina’s chief executive on an earnings call.

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