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Sina posts Q2 net loss while revenues grow 20%
2013-08-13 03:28:00| Telecompaper Headlines
(Telecompaper) Chinese internet company Sina grew net revenues 20 percent in the second quarter to USD 157.5 million from USD 131.6 million in the year-ago quarter. Advertising revenues were USD 120.6 million, up 17 percent year-on-year, and non-advertising revenues grew 30 percent to USD 36.9 million. Sina posted a net loss of USD 11.5 million, as the period included a one-off charge of USD 27.1 million in connection with the investment from Alibaba in Weibo. In Q2 2012, Sina posted a net income of USD 33.2 million. In April this year, Alibaba acquired an 18 percent stake in Sina's microblogging service Weibo for USD 586 million.
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Category:Telecommunications