Sina first quarter financial results: net loss of $ 13.2 million

By | May 17, 2013

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Sina Corporation (NASDAQ: SINA) today announced the first quarter (ended March 31, 2013) unaudited financial report. The results showed that Sina’s first quarter net revenues amounted $ 126 million, representing an increase of 19% over the same period last year; a net loss of $ 13.2 million in first quarter, compared with a net loss of $ 13.7 million in the same period last year.

In the first quarter, Sina’s online advertising revenues totaled $ 94.3 million compared to $ 78.5 million for the same period in last year. Non-advertising revenues amounted $ 31.7 million, compared to $ 27.7 million in the same period last year. MVAS revenues in the first quarter of 2013 was $ 15.9 million, down 17%, and other non-GAAP non-advertising revenues grew 180% to $ 11.1 million, the increase of revenue mainly came from online games and value-added services such as membership fees and microblogging value-added services.

Sina CEO and Chairman Zhang Chaoyang (Charles Zhang, 张朝阳) said “Since 2013, by updating our products and promoting the commercialization, the transformation from PC-centric to mobile-centric achieved very good results in April this year, Sina and Alibaba Group entered into a strategic alliance to accelerate our entry into the field of social business. In cooperation with Alibaba, Sina microblogging is ready to get involved in the e-commerce, especially in the field of mobile commerce; at the same time, we will explore the diversified solutions to facilitate micro-blog users to search, share and buy goods and services provided by hundreds of millions of businesses operators on Taobao.com and Tmall.com under Alibaba Group.”

Source: 腾讯科技(qq.com)

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