Science & Technology

The Canadian Press - ONLINE EDITION

Profit at Chinese portal Sina tumbles but beats forecasts

By: The Associated Press

Posted: 02/20/2013 4:14 AM | Comments: 0 | Last Modified: 02/20/2013 7:20 AM

In this photo taken on Oct. 2, 2011, an advertisement for Sina Weibo, is displayed in Beijing during a tennis tournament. THE CANADIAN PRESS/AP, Ng Han Guan

BEIJING, China - Chinese portal Sina Corp.'s quarterly profit tumbled 75 per cent on relatively small revenue for its microblog service.

Sina said Wednesday it earned $2.4 million in the three months ending Dec. 31, compared with $9.3 million a year earlier. Revenue rose 4 per cent to $139.1 million.

Online advertising revenue rose 7 per cent to $110.7 million. Non-advertising revenues, mostly from the company's popular Sina Weibo microblog service, rose 181 per cent but stood at just $10.6 million.

"2012 was a year of investment for Sina," said chairman Charles Chao. "In 2013, we will continue to improve user experience and expand the scale of Weibo monetization, while turn our focus to mobile Internet for all of our major product lines."

Sina offers online and mobile media as well its microblog service.

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories? Please use the form below and let us know.

* Required

In which story did you find the error? *
Please post the headline of the story or the title of the video with the error.
What was the error? *
Please post exactly what was wrong with the story.
What should we have written?
Please indicate your source for the correct information.
Who else should we interview to improve this story?
Please include any contact information you may have.
Can we contact you in the future for advice on stories about this topic?
Yes

No
First Name: *
Last Name: *
E–mail Address: *
This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.
Phone: *
This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.
Colour:
Are you blue? If you can see this, leave it blank and get some CSS support.
Enter the words that you see: * This is to prevent our forms from being filled out automatically.
You have failed to correctly identify the words in the box above. Please try again.

More Science & Technology

Undock

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.