Sina's Q4 revenues jump 61%, profit more than doubles

Tuesday 13 February 2018 | 12:42 CET | News
Chinese internet portal Sina reported revenues of USD 503.7 million for the fourth quarter of 2017, which represents an increase of 61 percent compared to USD 313.4 million for the same quarter of 2016. Net income for the fourth quarter of 2017 amounted to USD 45.4 million, compared to USD 19.9 million in the year-earlier period. Diluted net income per share attributable to SINA’s ordinary shareholders for the fourth quarter of 2017 was USD 0.60, compared to USD 0.27 for the fourth quarter of 2016.

Advertising revenues for the fourth quarter of 2017 were USD 424.8 million, an increase of 58 percent year-on-year. The year-on-year growth in advertising revenues was mainly resulted from an increase of 77 percent in Weibo advertising and marketing revenues and a 16 percent growth in portal advertising revenues in the fourth quarter.

Sina ended December 2017 with cash, cash equivalents and short-term investments of USD 3.4 billion, compared to USD 1.8 billion in December 2016. Fourth-quarter capital expenditures totaled USD 29.3 million, and depreciation and amortization expenses amounted to USD 9.3 million.