Sina's net income triples in Q2 as ad sales up

Sina Corp, the owner of China's top Internet portal and the biggest micro-blogging platform, said its net income tripled in the second quarter of the year driven by growing advertising revenues.

The Shanghai-based company said its net income was $33.2 million in the second quarter compared with $10 million a year ago. Advertising revenue increased 12 percent year-on-year to $103.1 million.

In addition, Sina's CEO Charles Chao said that he expects the company's Weibo service to help generate more ad revenue in the following quarters.

"Our investment in Weibo.com is showing continued traffic momentum, which helps strengthen Sina's brand, media influence and high-end user reach as well as positions Sina to grow market share in online advertising," Chao said.

Sina started to sell advertising on Weibo in April.

 

gaoyuan@chinadaily.com.cn