Exhibit 99.1
 
SINA Reports Second Quarter 2005 Financial Results
The Company Reports Net Revenues of $46.1 Million
SHANGHAI, China, August 3 /Xinhua-PRNewswire/ — SINA Corporation (Nasdaq: SINA), a leading online media company and value-added information service provider for China and for global Chinese communities, today announced its financial results for the second quarter ended June 30, 2005:
* Net revenues for the quarter declined 6% year-over-year to $46.1 million, meeting the Company’s guidance of between $44.0 million and $48.0 million.
* Advertising revenues for the quarter grew 31% year-over-year to $20.4 million, accounting for 44% of total revenues.
* Non-advertising revenues for the quarter declined 24% year-over-year to $25.8 million, accounting for 56% of total revenues.
* US GAAP net income for the quarter decreased 45% year-over-year to $10.0 million, or $0.17 diluted net income per share. US GAAP net income for the quarter included an impairment charge of $1.3 million on the Company’s investment in Tidetime Sun (previously called Sun Media Group).
* Non-GAAP net income for the quarter decreased 35% year-over-year to $12.5 million, or $0.21 diluted net income per share, meeting the Company’s guidance of between $11.0 million and $13.0 million.
“Despite a tough regulatory environment for wireless, we achieved the Company’s guidance on both net revenues and net income,” said Wang Yan, CEO of SINA. “We made great strides in our advertising business, which increased 22% from the prior quarter, and put increasing distance between us and our competitors. On the wireless front, we believe that the second quarter was a turning point for us and we may see modest growth for this sector in the near future.”
Financial Results
For the quarter ended June 30, 2005, SINA reported net revenues of $46.1 million, a decrease of 6% from $49.2 million reported in the same period of 2004 and an increase of 1% from $45.8 million reported in the previous quarter, within the range of the Company’s guidance of between $44.0 million and $48.0 million.
Advertising revenues totaled $20.4 million for the quarter, representing a 31% increase from $15.5 million reported in the same period in 2004 and a 22% increase from $16.6 million reported in the previous quarter. The sequential increase in advertising revenues was mainly due to the seasonality of the advertising business and increased customer spending.

 


The following information was filed by Sina Corp (SINA) on Wednesday, August 3, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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