Sina reported net revenues of $187.0 million, compared to $157.5 million for the same period last year. Gross margin for the second quarter of 2014 was 61%, comparing to 54% in Q2 2013 according to Sina’s announced unaudited financial results.
We are pleased with SINA’s second quarter results.
said Charles Chao, Chairman and CEO of Sina.
Weibo is executing well with strong financial performance, solid traffic growth and measurable progress toward building out a social commerce platform and offering native ads to large brand customers. On the portal side, we are making progress in building new businesses and leveraging SINA’s brand and media influence to capture mobile and vertical opportunities
Sina Second Quarter 2014 Highlights
- Net revenues increased 19% year over year to $187.0 million. Non-GAAP net revenues increased 21% year over year to $184.4 million, exceeding the Company’s guidance between $177 million and $182 million
- Advertising revenues grew 29% year over year to $155.8 million, exceeding the Company’s guidance between $152 million and $155 million
- Non-advertising revenues were $31.2 million. Non-GAAP non-advertising revenues were $28.6 million, exceeding the Company’s guidance between $25 million and $27 million
- Net income attributable to SINA was $16.6 million, or $0.25 diluted net income per share attributable to SINA. Non-GAAP net income attributable to SINA was $12.1 million, or $0.17 non-GAAP diluted net income per share attributable to SINA?
Sina estimates that its non-GAAP net revenues for the third quarter of 2014 will be between $193 million and $199 million, which excludes the recognition of $2.6 million in deferred license revenues from E-House.