Sina banks on Wiebo, spooks investors

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.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus