China’s Sina Reports Q2 2012 Earnings: Net Income Rises To $33 Million On Revenue Of $131.6 Million

Posted on Aug 16 2012 - 4:10am by Editorial Staff

China’s leading online media company Sina today announced its unaudited second quarter financial results ended June 30, 2012. The company reported the net revenues increased 11% year over year to $131.6 million. Non-GAAP net revenues increased 11% year over year to $126.9 million, within the Company’s guidance between $126.0 million and $129.0 million.

Advertising revenues grew 12% year over year to $103.1 million, within the Company’s guidance between $103.0 million and $105.0 million. Non-advertising revenues increased 5% year over year to $28.5 million. Non-GAAP non-advertising revenues increased 6% year over year to $23.8 million, within the Company’s guidance between $23.0 million and $24.0 million.

Net income attributable to Sina was $33.2 million, or $0.49 diluted net income per share attributable to Sina. Non-GAAP net income attributable to SINA was $3.7 million, or $0.05 non-GAAP diluted net income per share attributable to Sina.

Considering the business outlook, the company estimating that its non-GAAP net revenues for the third quarter of 2012 will be between $145 million and $148 million, with advertising revenues to be between $120 million and $122 million, representing a year-over-year increase between 19% and 21%, and non-GAAP non-advertising revenues to be between $25 million and $26 million, representing a year-over-year increase between 2% and 6%.

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