Ads boost Sina profit
By Ding Yining |
May 19, 2010, Wednesday
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Print Edition
Print Edition
SINA Corp, the biggest Chinese Internet portal, said profit in the first quarter more than doubled from last year's on strong online advertising income.
Net income was US$24.4 million, or 37 cents per share, against US$9.7 million a year ago.
Revenue was US$80.3 million with online advertising contributing US$54.3 million. The revenue beat the company's previous forecast of US$78 million to US$80 million.
"The online advertising business will see strong growth in the future with Sina's leading position in the market as well as China's economic recovery," said Chief Executive Officer Charles Chao.
Net income was US$24.4 million, or 37 cents per share, against US$9.7 million a year ago.
Revenue was US$80.3 million with online advertising contributing US$54.3 million. The revenue beat the company's previous forecast of US$78 million to US$80 million.
"The online advertising business will see strong growth in the future with Sina's leading position in the market as well as China's economic recovery," said Chief Executive Officer Charles Chao.
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