SINA Corporation (the “Company” or “SINA”) (NASDAQ GS: SINA), a leading Internet media company serving China and the global Chinese communities, announced net revenues increased 42% year over year to $197.0 million. Non-GAAP net revenues increased 43% year over year to $192.3 million, within the Company’s guidance between $190.0 million and $194.0 million.

  • Advertising revenues grew 45% year over year to $160.1 million, within the Company’s guidance between$160.0 million and $162.0 million.
  • Non-advertising revenues increased 30% year over year to $36.9 million. Non-GAAP non-advertising revenues increased 36% year over year to $32.3 million, exceeding the Company’s guidance between $30.0 million and $32.0 million.
  • Net income attributable to SINA was $44.5 million, or $0.59 diluted net income per share attributable to SINA. Non-GAAP net income attributable to SINA grew 267% year-over-year to $33.0 million, or $0.47 non-GAAP diluted net income per share attributable to SINA.

Fiscal Year 2013 Highlights

  • Net revenues increased 26% year over year to $665.1 million. Non-GAAP net revenues increased 27% year over year to $646.4 million.
  • Advertising revenues grew 28% year over year to $526.5 million.
  • Non-advertising revenues increased 19% year over year to $138.6 million. Non-GAAP non-advertising revenues increased 23% year over year to $119.9 million.
  • Net income attributable to SINA was $45.1 million, or $0.66 diluted net income per share attributable to SINA. Non-GAAP net income attributable to SINA increased 645% year-over-year to $77.3 million. Non-GAAP diluted net income per share attributable to SINA increased 653% to $1.13.

“The strong performance of Weibo’s advertising and value-added services in the fourth quarter allowed us to end 2013 with strong top line and bottom line growth.” said Charles Chao, Chairman and CEO of SINA. “As we enter 2014, we will continue to focus on growing Weibo’s user base and user engagement through product innovation, as well as seizing opportunities to enable us for long term growth.”

About SINA

SINA is an Internet media company serving China and the global Chinese communities. Our digital media network of SINA.com (portal), Weibo.com (social media), SINA.cn (mobile portal) and other mobile applications, enable Internet users to access professional media and user generated content in multi-media formats from the web and mobile devices and share their interests with friends and acquaintances.

Source: SINA Press Release