SINA Reports Second Quarter 2010 Financial Results
SHANGHAI, China—August 4, 2010— SINA Corporation (NASDAQ GS: SINA), a leading online media
company and mobile value-added service (“MVAS”) provider for China and for the global Chinese communities,
today announced its unaudited financial results for the quarter ended June 30, 2010.
Starting in the fourth quarter of 2009, in addition to the disclosure of GAAP results below, SINA’s historical
revenues and certain non-GAAP measures (namely, gross profit, operating expenses, income from operations
and advertising gross margin) have been revised to exclude results from China Online Housing Technology
Corporation (“COHT”), adjusted for the impact of the amended and restated advertising agency agreement on a
pro forma basis as if the agreement had been effective at the beginning of the periods presented. These
adjustments were made to reflect SINA injecting its online real estate advertising business into its majority-owned
subsidiary COHT and exchanging its interest in COHT for approximately 33% interest in China Real Estate
Information Corporation (“CRIC”) upon the successful listing of CRIC on the NASDAQ Global Select Market
in October 2009 (“Transaction”). Non-GAAP measures are described below and reconciled to the
corresponding GAAP measures in the section below titled “Unaudited Reconciliation of Non-GAAP to GAAP
Second Quarter 2010 Highlights
“SINA had an outstanding second quarter. Our online advertising business, which excludes the adjusted results of
SINA real estate advertising, grew 52% year over year, contributing to SINA’s top line and bottom line growth.
SINA’s ability to rapidly grow online advertising revenues while expanding our profit margin is a reflection of the
strength of SINA’s brand,
Net revenues grew 10% year over year to $99.4 million.
Non-GAAP net revenues grew 18% year over year to $94.7 million, exceeding SINA’s guidance between
$90.0 million and $93.0 million.