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Nasdaq-listed Sina slide to losses in Q1

May. 16, 2012 (China Knowledge) – Sina Corp<SINA>, which operates the largest web portal in China, incurred a US$13.7 million in net loss attributable to shareholders in Q1 2012.

Non-GAAP net loss attributable to shareholders for the same periodwas US$14 million, compared with a net profit of US$16.9 million in the corresponding period of last year.

For Q1 2012, Sina saw its total revenue increased 5.99% year on year to US$106.2 million.

Diluted loss per American Depositary Share for the first quarterof this year was US$0.21, while the diluted earnings per ADS were US$0.23 in Q1 2011.

On a non-GAAP basis,the U.S listed company's diluted loss per ADS was US$0.21 in Q1 2012, compared with the diluted earnings per ADS of US$0.25 in Q1 2011.

The web portal operator expects its net revenue to reach around US$126 million to US$129 million in Q2 2012, and its advertising revenue falls on the range of between US$103 million and US$105 million, an increase of 12% to 14% YoY, sources reported.

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