Sina’s second-quarter results than expected weibo revenue rose by almost 200%

(editor: qing nan)

the company today announced as of June 30, 2013 in the second quarter unaudited financial statements. , according to a report in the second quarter, sina’s net revenue of $157.5 million, up 20% from a year earlier. In the second quarter of sina should be accounted for a net loss of $11.5 million, compared with net income of $33.2 million.

Performance points

? Net revenue of $157.5 million, up 20% from a year earlier. The us gaap net revenue of $152.8 million, up 20% from a year earlier, more than the company expected range of $143 million to $147 million.

? Advertising revenue of $120.6 million, up 17% from a year earlier, the company more than $117 million to $119 million of the expected range.

? The advertising revenue of $36.9 million, up 30% from a year earlier. Not general accounting standards not advertising revenue of $32.2 million, up 35% from a year earlier, the company more than $26 million to $28 million of the expected range.

microblog business

in the most emphasis on the microblog business, revenue totaled $37.7 million. Among them, weibo advertising revenue growth of 209% year-on-year, to $30 million. Value added business revenue of $7.7 million, up 186% from a year earlier, including share revenue from online games and weibo membership fees.

Cash flow

as of June 30, 2013, sina’s total cash, cash equivalents and short-term investments of $1.237 billion, $2012 as of December 31, 2012. Total cash, cash equivalents and short-term investments growth mainly received from alibaba net cash in relation to their investment in weibo. In the second quarter of 2013 cash provided by operating activities was $43.6 million, capital expenditure of $10.9 million, depreciation costs $8.7 million.

forecast

sina is expected in the third quarter of 2013 the us gaap net revenue will be between $176 million and $180 million, including advertising revenue to between $151 million and $153 million, not general accounting standards not advertising revenue to between $25 million to $27 million. The expectations hypothesis low profit margins of mobile value-added services revenue fell about $6 million. Non American gaap net revenue and not general accounting standards not advertising revenue is not included with sina in e-house company/CRIC (group) China real estate information equity related deferred revenue by $4.7 million.

The response of stock price

good results also stimulate the sina shares rose. Last night at 79.64 between opening and closing up to 80.35%, compared with the previous trading day rose $2.29, or 2.93%. In after-hours trading, shares rose 5.55%, rising to $84.50, then to one years.

here is sina in the second quarter of 2013 earnings details

in the second quarter of 2013 net revenue of $157.5 million, $131.6 million a year earlier. The us gaap net revenue of $152.8 million, $126.9 million a year earlier.

in the second quarter of 2013 online advertising revenue of $120.6 million, $103.1 million a year earlier. In the second quarter of 2013 weibo advertising revenue grew by 209%, to $30 million. In the second quarter of 2013 not us gaap advertising revenue of $32.2 million, $23.8 million a year earlier. In the second quarter of 2013 mobile value-added business revenue of $19.9 million, up 13% from a year earlier. Weibo value-added business revenue of $7.7 million, up 186% from a year earlier, the latter including share revenue from online games and weibo membership fees.

in the second quarter of 2013 gross margin was 54%, more than 53% a year ago. Included in the cost of sales with alibaba trading (see below “other matters” part can get more information about the stock compensation costs $3.9 million. The us gaap advertising business gross margin was 57%, more than 54% a year ago, thanks to the profitability of the company’s business advertising promotion. The advertising business gross margin was 55%, more than 54% a year ago. In the second quarter of 2013 than the us gaap advertising business gross margin of 49%, more than 45% a year ago, thanks to higher margin weibo value-added revenue contribution to the growth of the business, this growth is offset by a decline in margins part of mobile value-added services.

in the second quarter of 2013 operating costs a total of $102.5 million, $69.8 million a year earlier. Without including with alibaba trading (see below “other matters” part can obtain more information) about $23.2 million of stock compensation, in the second quarter of 2013 the us gaap operating expenditure of $75.4 million, $66.8 million a year earlier. Non American gaap operating expenditure growth is mainly derived from labor costs increased, and relatively small bad-debt expenses increased, the increase of these costs are reduced spending on marketing partially offset.

in the second quarter of 2013 operating loss of $18.2 million, compared with operating profit of $200000. In the second quarter of 2013 the us gaap operating profit of $8.8 million, compared with operating losses of $800000.

in the second quarter of 2013 the operating profit of $8.2 million, $34.2 million a year earlier. Among operating profit in the second quarter of 2013 including a $1.3 million equity investment income, on the basis of the general accounting standards and earnings of $4.2 million, equity investment income, according to the rights and interests of accounting method to calculate its deferred a quarter. Among operating profit in the second quarter of 2012 including a $32.8 million net income, the income mainly comes from Chinese real estate information group (5.62, 0.00, 0.00%) (CRIC) because of the company and the (6, 1.36, 29.31%) (China) holding co., LTD., merge the investment returns.

in the second quarter of 2013, sina’s share of net loss of $11.5 million, compared with net income of $33.2 million. In the second quarter of 2013, sina’s share of diluted net loss of 17 cents per share, compared with diluted net profit 49 cents a share. In the second quarter of 2013 the us gaap sina share of net income of $14.2 million, $3.7 million a year earlier. In the second quarter of 2013 the us gaap sina should be diluted earnings per share for the 21 cents, a year ago for 5 cents.

as of June 30, 2013, sina’s total cash, cash equivalents and short-term investments of $1.237 billion, $2012 as of December 31, 2012. Total cash, cash equivalents and short-term investments growth mainly received from alibaba net cash in relation to their investment in weibo. In the second quarter of 2013 cash provided by operating activities was $43.6 million, capital expenditure of $10.9 million, depreciation costs $8.7 million.

Other matters

on April 29, 2013, alibaba, through its wholly owned subsidiary, to invest $586 million purchase of sina weibo company’s preferred shares and common shares, accounting for weibo company fully diluted diluted about 18% of total shares (hereinafter the “deal” for short). A option, in addition, sina was awarded to alibaba allows alibaba pricing according to the two sides agreed in advance, it fully diluted in weibo company diluted share up to 30%. Influenced by the “deal”, we recognize the $49.7 million debt investors options, to reflect the options as of June 30, 2013 of the fair market value, and a $27.1 million one-time stock compensation costs.