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Sina Q2 Profits Up 74%
Sina Press Release, 8/07/08
Chinese online media company and wireless value-added service provider Sina (Nasdaq: SINA) has announced its unaudited financial results for Q2 2008, with net revenues reaching USD 91.3 mln, up 53% year-on-year and 28% quarter-on-quarter.
GAAP net income for the quarter came to USD 25.2 mln, up 74% YoY.
Advertising revenues for the quarter increased 58% year-on-year and 36% quarter-on-quarter to USD 64.9 mln, and represented 71% of total revenues, up from 69% in the same period last year and 67% in the previous quarter.
Non-advertising revenues increased 42% year-on-year and 12% quarter-on-quarter to USD 26.4 mln. Of this total, WVAS revenues, which accounted for 93% of non-advertising revenues, grew 44% year-on-year and 13% quarter-on-quarter to USD 24.5 mln.
The company estimates Q3 2008 revenues will be between USD 100 mln and USD 104 mln.
To see Sina’s full report, please click [url=http://www.xprn.com/pr/08/08/08490411-1.html]here[/url].
Keywords: fiscal report, online advertising, portal, Internet, Q2 2008, Sina, wireless, SP, WVAS
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