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Sina Q1 Net Profit up 87%
Sina Press Release, 5/14/08
Online media and wireless value-added service (WVAS) provider Sina (Nasdaq: SINA) has announced its unaudited financial results for Q1 2008, with net revenues reaching USD 71.3 mln, up 39% year-on-year but remaining almost even quarter-on-quarter.
Net income for the quarter came to USD 16.1 mln, up 87% YoY.
Advertising revenues for the first quarter totaled USD 47.8 mln, up 51% from the same period last year but down 5% from the previous quarter.
WVAS revenues for the quarter, which accounted for 92% of non-advertising revenues, reached USD 21.7 mln, an increase of 19% from Q1 2007, and 16% from Q4 2007
The company estimates Q2 2008 revenues to be between USD 88.0 mln and USD 90.0 mln.
Editor's Note: To view the full version of Sina's earnings report, please click here.
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