Sina banks on Wiebo, spooks investors
- As a public figure, you must learn to face criticism: SC tells Jayalalithaa in defamation case
- Rajnath Singh: Those who believe in Kashmiriyat, Insaniyat & Jamhooriyat welcome for talks
- Rohith Vemula was not a Dalit, says probe panel set up by HRD Ministry
- Scorpene Submarine: Will probe leak, says DCNS; source not from India, says Defence Ministry
- Saradha scam: ED summons Chidambaram's wife Nalini
Sina's quarterly advertising revenue rose 19 percent to $120.6 million, while non-advertising revenue rose 9 percent to $31.8 million.
The company started monetizing Weibo by offering special services to business accounts and selling VIP memberships to regular users earlier this year.
For its mobile-value-added-services business, Sina said it expects revenue to continue to decline due to new regulatory policies.
The company was also affected by a spat between Japan and China over islands in the East China Sea as Japanese automakers cut back on advertising in China. Chao said he expected the impact to last into the fourth quarter.
It did have an impact on our third quarter as well as our fourth quarter. We did see cancellations from customers related to Japanese automobiles in the month of September and it impacted the fourth quarter (too), Chao said.
Sina shares fell 6.74 percent to $49.52 in extended trading. They closed at $53.10 on the Nasdaq on Thursday.
- Tension between the executive and judiciary could play out in creative, or destructive, ways
- Mental Health Bill tries to address complex issues, but it’s a work in progress
- Modi’s recent statements could help end the troubled region’s long international isolation
- Divya Spandana: Pakistan is no hell, I stand by my remarks
- The freedom from unreason
- Cow protection, paradoxically, poses a threat to the BJP’s project of Hindu unity