The China-based internet company, Sina, has reported revenues of $126 million for the first quarter of 2013, a 19 per cent year-over-year (y-o-y) increase.
For the period under review, the company’s advertising and non-advertising revenue stood at $94.3 million and 31.7 million, respectively. However, the company’s revenues from mobile value added services declined by 17 per cent y-o-y to $15.9 million. The company’s net loss stood at $13.2 million. The company’s gross margin for the period under review stood at 51 per cent.
As of March 31, 2013, the company’s cash, cash equivalents and short-term investments stood at $681.9 million.
Going forward, Sina expects its non-GAAP net revenues for the second quarter of 2013 to be between $143 million and $147 million. This would include advertising revenues of $117-119 million and non-advertising revenues of $26-28 million.
