Ad income ups profits for Sina
By Ding Yining |
August 6, 2010, Friday
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Print Edition
Print Edition
SINA Corp, the largest Chinese portal operator, posted better-than-expected second-quarter profits on surging advertising income.
Net income nearly doubled to US$25.2 million, or 38 US cents per share, from US$13.3 million in the same period last year, the company said in a statement yesterday.
Total revenue saw an increase of 10 percent to US$99.4 million, exceeding its previous forecast of between US$90 million and US$93 million.
"Online advertising continued to show strong momentum and the Twitter-like Weibo service is enhancing our leading position in the online media sector," Chief Executive Officer Charles Chao said.
Advertising revenue added 26 percent to US$73.1 million in the quarter ending June 30.
That beats domestic rival Sohu's US$53.2 million income on brand advertising in the same quarter.
Net income nearly doubled to US$25.2 million, or 38 US cents per share, from US$13.3 million in the same period last year, the company said in a statement yesterday.
Total revenue saw an increase of 10 percent to US$99.4 million, exceeding its previous forecast of between US$90 million and US$93 million.
"Online advertising continued to show strong momentum and the Twitter-like Weibo service is enhancing our leading position in the online media sector," Chief Executive Officer Charles Chao said.
Advertising revenue added 26 percent to US$73.1 million in the quarter ending June 30.
That beats domestic rival Sohu's US$53.2 million income on brand advertising in the same quarter.
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