SINA Reports Third Quarter 2012 Financial Results

              SINA Reports Third Quarter 2012 Financial Results

PR Newswire

SHANGHAI, Nov. 15, 2012

SHANGHAI, Nov. 15, 2012 /PRNewswire/ --SINA Corporation (NASDAQ GS: SINA), a
leading online media company serving China and the global Chinese communities,
today announced its unaudited financial results for the third quarter ended
September 30, 2012.

Third Quarter 2012 Highlights

  oNet revenues increased 17% year over year to $152.4 million. Non-GAAP net
    revenues increased 18% year over year to $147.7 million, reaching the high
    end of the Company's guidance between $145.0 million and $148.0 million.
  oAdvertising revenues grew 19% year over year to $120.6 million, within the
    Company's guidance between $120.0 million and $122.0 million.
  oNon-advertising revenues increased 9% year over year to $31.8 million.
    Non-GAAP non-advertising revenues increased 10% year over year to $27.1
    million, exceeding the Company's guidance between $25.0 million and $26.0
    million. Non-GAAP non-advertising revenues other than MVAS grew 150% year
    over year to $8.0 million.
  oNet income attributable to SINA was $9.9 million, or $0.14 diluted net
    income per share attributable to SINA. Non-GAAP net income attributable to
    SINA was $11.7 million, or $0.17 non-GAAP diluted net income per share
    attributable to SINA.

"The London 2012 Olympic Games could very well be termed in China as the
'social' Olympics, pushing Weibo.com's daily active users to a new record and
Weibo's registered accounts to surpass 400 million," said Charles Chao, CEO
and Chairman of SINA. "We are pleased with the initial results of Weibo
monetization, as advertising revenues doubled from the previous quarter and we
started revenue sharing with application developers. We believe these new
initiatives will help us reduce the impact of China's weak macro-economic
conditions. As we look forward into 2013, we are preparing to launch Weibo
advertising solutions geared toward the small and medium-sized enterprise
market, which will open up new opportunities for SINA advertising."

Third Quarter 2012 Financial Results

For the third quarter of 2012, SINA reported net revenues of $152.4 million,
compared to $130.3 million for the same period last year. Non-GAAP net
revenues for the third quarter of 2012 totaled $147.7 million, compared to
$125.6 million for the same period last year.

Online advertising revenues for the third quarter of 2012 were $120.6 million,
compared to $101.0 million for the same period last year. Non-advertising
revenues for the third quarter of 2012 totaled $31.8 million, compared to
$29.3 million for the same period last year. MVAS revenues for the third
quarter of 2012 amounted to $19.1 million, compared to $21.4 million for the
same period last year.

Gross margin for the third quarter of 2012 was 54%, down from 56% for the same
period last year. Advertising gross margin for the third quarter of 2012 was
55%, compared to 59% for the same period last year. Non-GAAP advertising gross
margin for the third quarter of 2012 was 56%, down from 60% for the same
period last year, mainly due to increased content spending, particularly
related to the Olympics, as well as production-related labor and
infrastructure costs. MVAS gross margin for the third quarter of 2012 was 36%,
compared to 32% for the same period last year, due to a change in product mix.

Operating expenses for the third quarter of 2012 totaled $79.2 million,
compared to $132.9 million for the same period last year, which included a
$68.9 million impairment in MVAS goodwill. Non-GAAP operating expenses for the
third quarter of 2012 were $73.7 million, compared to $60.4 million for the
same period last year.The increase in non-GAAP operating expenses was
primarily due to higher personnel, fixed asset and facilities related costs,
partially offset by lower marketing expenditures.

Income from operations for the third quarter of 2012 was $3.8 million,
compared to a loss from operations of $59.8 million for the same period last
year. Non-GAAP income from operations for the third quarter of 2012 was $5.4
million, compared to $8.9 million for the same period last year.

Non-operating income from for the third quarter of 2012 was $8.3 million,
compared to a non-operating loss of $275.2 million from the same period last
year. Non-operating results for the third quarter of 2012 included a gain of
$7.2 million from the conversion of shares of Tudou Holdings Limited to shares
of Youku Tudou Inc., partially offset by a loss of $4.2 million from the
write-down on investment in Mecox Lane Limited ("Mecox"). Non-operating
results for the third quarter of 2011 included a loss of $281.2 million
related to the write-down on investments in China Real Estate Information
Corporation ("CRIC") and Mecox.

Net income attributable to SINA for the third quarter of 2012 was $9.9
million, compared to a net loss attributable to SINA of $336.3 million for the
same period last year. Diluted net income per share attributable to SINA for
the third quarter of 2012 was $0.14, compared to a diluted net loss per share
attributable to SINA of $5.10 for the same period last year. Non-GAAP net
income attributable to SINA for the third quarter of 2012 was $11.7 million,
compared to $17.5 million for the same period last year. Non-GAAP diluted net
income per share attributable to SINA for the third quarter of 2012 was $0.17,
compared to $0.26 for the same period last year.

As of September 30, 2012, SINA's cash, cash equivalents and short-term
investments totaled $696.2 million, compared to $673.5 million as of December
31, 2011. For the third quarter of 2012, cash provided by operating activities
was $17.7 million, capital expenditures totaled $18.4 million and depreciation
expenses amounted to $7.1 million.

Business Outlook

SINA estimates that its non-GAAP net revenues for the fourth quarter of 2012
will be between $132 million and $136 million, with advertising revenues to be
between $110 million and $112 million, representing a year-over-year increase
between 6% and 8%, and non-GAAP non-advertising revenues to be between $22
million and $24 million, representing a year-over-year decrease between 4% and
12%.The Company's estimate of non-GAAP non-advertising revenues assumes that
MVAS revenues may decline between $8 million to $9 million year over year due
to new operator policies to reduce customer complaints. Non-GAAP net revenues
and non-GAAP non-advertising revenues exclude the recognition of $4.7 million
in deferred license revenue related to SINA's equity investment in
CRIC/E-House.

Non-GAAP Measures

This release contains financial measures that are not prepared in accordance
with generally accepted accounting principles in the United States ("GAAP").
These non-GAAP financial measures, which are used as measures of SINA's
performance, should be considered in addition to, not as a substitute for,
measures of the Company's financial performance prepared in accordance with
GAAP. The Company's non-GAAP financial measures may be defined differently
than similar terms used by other companies. Accordingly, care should be
exercised in understanding how the Company defines its non-GAAP financial
measures.

Reconciliations of the Company's non-GAAP measures to the nearest GAAP
measures are set forth in the section below titled "Unaudited Reconciliation
of Non-GAAP to GAAP Results." These non-GAAP measures include non-GAAP net
revenues, non-GAAP non-advertising revenues, non-GAAP gross profit, non-GAAP
advertising gross margin, non-GAAP operating expenses, non-GAAP income/(loss)
from operations, non-GAAP equity earnings/(loss) from equity investments,
non-GAAP net income/(loss) attributable to SINA and non-GAAP diluted net
income/(loss) per share attributable to SINA.

The Company's management uses non-GAAP financial measures to gain an
understanding of the Company's comparative operating performance (when
comparing such results with previous periods or forecasts) and future
prospects. The Company's non-GAAP financial measures exclude certain items,
including stock-based compensation, amortization of intangible assets,
recognition of deferred revenues and gain/loss resulting from the disposal,
purchase or impairment of a business, investment or non-controlling interest
in a subsidiary, from its internal financial statements for purposes of its
internal budgets. Non-GAAP financial measures are used by the Company's
management in their financial and operating decision-making, because
management believes they reflect the Company's ongoing business in a manner
that allows more meaningful period-to-period comparisons. The Company's
management believes that these non-GAAP financial measures provide useful
information to investors and others in the following ways: 1) in comparing the
Company's current financial results with the Company's past financial results
in a consistent manner, and 2) in understanding and evaluating the Company's
current operating performance and future prospects in the same manner as
management does, if they so choose. The Company's management further believes
the non-GAAP financial measures provide useful information to both management
and investors by excluding certain expenses, gains/losses and other items (i)
that are not expected to result in future cash payments or (ii) that are
non-recurring in nature or may not be indicative of its core operating results
and business outlook.

The Company's management believes excluding stock-based compensation from its
non-GAAP financial measures is useful for itself and investors, as such
expense will not result in future cash payments and is not an indicator used
by management to measure the Company's core operating results and business
outlook.

The Company's management believes excluding the amortization of intangible
assets from its non-GAAP financial measures is useful for itself and
investors, because it enables a more meaningful comparison of the Company's
cash performance between reporting periods.In addition, such charges will not
result in cash settlement in the future and is not an indicator used by
management to measure the Company's core operating results and business
outlook.

The Company's management believes excluding the recognition of deferred
revenues, mostly relating to the license agreements with CRIC from its
non-GAAP financial measures is useful for itself and investors, because it
enables a more meaningful comparison of the Company's revenue performance
between reporting periods. In addition, such revenues will not result in cash
settlement in the future and is not an indicator used by management to measure
the Company's core operating results and business outlook.

The Company's management believes excluding stock-based compensation and
amortization expense of intangible assets from its share of earning/(loss)
from equity investments is useful for itself and investors, as these items are
excluded to calculate the Company's non-GAAP measures.

The Company's management believes excluding gain/loss resulting from the
disposal, purchase or impairment of a business, investment or non-controlling
interest in a subsidiary from its non-GAAP financial measures is useful for
itself and investors, because such gains/losses are not indicative of the
Company's core operating results.

The non-GAAP financial measures have limitations. They do not include all
items of income and expense that affect the Company's
operations.Specifically, these non-GAAP financial measures are not prepared
in accordance with GAAP, may not be comparable to non-GAAP financial measures
used by other companies and, with respect to the non-GAAP financial measures
that exclude certain items under GAAP, do not reflect any benefit that such
items may confer to the Company. Management compensates for these limitations
by also considering the Company's financial results as determined in
accordance with GAAP.

Conference Call

SINA will host a conference call at 8 p.m. Eastern Time on November 15, 2012
(or 9a.m. –10a.m. Beijing Time on November 16, 2012) to present an overview of
the Company's financial performance and business operations. A live webcast of
the call will be available through the Company's corporate website at
http://corp.sina.com. The conference call can be accessed as follows:

US:                        +1 646 254 3515
Hong Kong:                 +852 3051 2745
Passcode for all regions: 66183734

A replay of the conference call will be available through midnight Eastern
Standard Time November 22, 2012.The dial-in number is +61 2 8199 0299. The
pass code for the replay is 66183734.

About SINA

We are an online media company serving China and the global Chinese
communities. Our digital media network of SINA.com(portal), SINA.cn (mobile
portal) and Weibo.com (social media) enable Internet users to access
professional media and user generated content in multi-media formats from the
web and mobile devices and share their interests to friends and acquaintances.

SINA.com offers distinct and targeted professional content on each of its
region specific websites and a range of complementary offerings. SINA.cn
provides information and entertainment content from SINA portal customized for
WAP users. Based on an open-platform architecture to host organically
developed and third-party applications, Weibo.com is a form of social media,
featuring microblogging services and social networking services that allow
users to connect and share information anywhere, anytime and with anyone on
our platform.

Through these businesses and properties and other business lines, we offer an
array of services including mobile value added services ("MVAS"), online
video, music streaming, online games, photo sharing, blog, email, classified
listings, fee-based services, e-commerce and enterprise services. We generate
the majority of our revenues from online brand advertising, MVAS and fee-based
services.

Safe Harbor Statement

This press release contains forward-looking statements that relate to, among
other things, SINA's expected financial performance and SINA's strategic and
operational plans (as described, without limitation, in the "Business Outlook"
section and in quotations from management in this press release).SINA may
also make forward-looking statements in the Company's periodic reports to the
U.S. Securities and Exchange Commission, in its annual report to shareholders,
in its proxy statements, in its offering circulars and prospectuses, in press
releases and other written materials and in oral statements made by its
officers, directors or employees to third parties.SINA assumes no obligation
to update the forward-looking statements in this press release and elsewhere.
Statements that are not historical facts, including statements about the
Company's beliefs and expectations, are forward-looking
statements.Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual results to
differ materially from those contained in any forward-looking
statement.Potential risks and uncertainties include, but are not limited to,
SINA's limited operating history, the current global financial and credit
market crisis and its impact on the Chinese economy, the uncertain regulatory
landscape in the People's Republic of China, fluctuations in the Company's
quarterly operating results, the Company's reliance on online advertising
sales and MVAS for a majority of its revenues, any failure to successfully
develop, introduce, drive adoption of or monetize new features and products,
including Weibo.com and MVAS products, the Company's reliance on mobile
operators in China to provide MVAS, changes by mobile operators in China to
their policies for MVAS, any failure to successfully integrate acquired
businesses, risks associated with its investments, including equity pick-up
and impairment, and any failure to compete successfully against new entrants
and established industry competitors.Further information regarding these and
other risks is included in SINA's Annual Report on Form 20-F for the year
ended December 31, 2011 and its other filings with the Securities and Exchange
Commission.

Contact:

Investor Relations
SINA Corporation
Phone: 8610-82628888 x 3112
Email: ir@staff.sina.com.cn



SINA CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. Dollars in thousands, except per share data)
                       Three months ended                Nine months ended
                       September 30,          June 30,   September 30,
                       2012       2011        2012       2012       2011
Net revenues:
 Advertising        $120,590   $ 101,018   $103,130   $302,262   $265,150
 Non-advertising    31,788     29,268      28,475     87,941     84,310
                       152,378    130,286     131,605    390,203    349,460
Cost of revenues:
 Advertising (a)   54,010     41,070      48,472     146,566    111,823
 Non-advertising    15,428     16,072      13,150     41,605     42,792
                       69,438     57,142      61,622     188,171    154,615
Gross profit           82,940     73,144      69,983     202,032    194,845
Operating expenses:
 Sales and          38,439     36,256      34,471     107,654    99,854
marketing (a)
 Product            28,392     19,429      26,139     79,554     44,069
development (a)
 General and        12,308     8,264       9,188      28,817     21,033
administrative (a)
 Goodwill           -          68,891      -          -          68,891
impairment
 Amortization of    12         107         12         132        624
intangibles
                       79,151     132,947     69,810     216,157    234,471
Income/(loss) from     3,789      (59,803)    173        (14,125)   (39,626)
operations
Non-operating income:
 Interest and other  4,388      5,826       4,782      12,701     12,788
income, net
 Earning/(loss) from
equity investments,    883        176         (3,315)    (6,353)    1,241
net
 Gain on sale of
/(impairment) on       3,004      (281,162)   32,770     38,835     (281,548)
investments,net
                       8,275      (275,160)   34,237     45,183     (267,519)
Income/(loss) before   12,064     (334,963)   34,410     31,058     (307,145)
income taxes
Provision for income   (1,592)    (1,366)     (1,033)    (1,351)    (4,288)
taxes
Net income/(loss)      10,472     (336,329)   33,377     29,707     (311,433)
 Less: Net
income/(loss)
attributable to        594        9           132        324        (62)
noncontrolling
interest
Net income/(loss)      $ 9,878   $(336,338)  $33,245    $29,383    $(311,371)
attributable to SINA
Basic net
income/(loss) per      $  0.15  $         $  0.50  $  0.44  $  (4.80)
share attributable to             (5.10)
SINA
Diluted net
income/(loss) per      $  0.14  $         $  0.49  $  0.43  $  (4.80)
share attributable to             (5.10)
SINA
Shares used in
computing basic
 net income/(loss)
per share attributable 66,496     65,908      66,337     66,339     64,821
to SINA
Shares used in
computing diluted
 net income/(loss)
per share attributable 66,874     65,908      66,809     66,822     64,821
to SINA
(a) Stock-based
compensation in each
category:
   Cost of revenues -  $   865  $   895   $  751   $         $  2,281
   advertising                                           2,423
   Sales and marketing 1,187      909         754        2,707      2,087
   Product development 1,011      982         868        2,946      1,950
   General and         3,267      1,629       1,346      5,746      4,994
   administrative



SINA CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. Dollars in thousands)
                                     September 30,         December 31,
                                     2012                  2011
    Assets
 Current assets:
    Cash and cash equivalents        $              $       
                                     227,101              513,980
    Short-term investments           469,146               159,495
    Accounts receivable, net         144,959               112,469
    Other current assets             49,510                41,966
     Total current assets       890,716               827,910
 Property and equipment, net         72,391                74,511
 Goodwill and intangible assets,     15,851                15,974
 net
 Investments                         463,130               463,938
 Other assets                        27,370                9,114
 Total assets                        $               $      
                                     1,469,458             1,391,447
    Liabilities and Shareholders' Equity
 Current liabilities:
    Accounts payable                 $            $         
                                     4,183                8,854
    Accrued liabilities              203,828               174,972
    Income taxes payable             9,956                 14,717
    Convertible debt                -                     2,200
     Total current liabilities   217,967               200,743
 Long-term deferred revenue          112,470               126,529
 Other long-term liabilities         1,815                 1,826
     Total liabilities           332,252               329,098
 Shareholders' equity
    SINA shareholders' equity        1,128,410             1,055,670
    Noncontrolling interest          8,796                 6,679
     Total shareholders'         1,137,206             1,062,349
    equity
 Total liabilities and               $               $      
 shareholders' equity                1,469,458             1,391,447



SINA CORPORATION
UNAUDITED SEGMENT INFORMATION
(U.S. Dollars in thousands)
                 Three months ended                     Nine months ended
                 September 30,             June 30,     September 30,
                 2012         2011         2012         2012        2011
Net revenues
  Advertising    $          $  101,018  $         $         $  
                 120,590                   103,130      302,262     265,150
  Mobile related 19,079       21,374       17,668       55,765      62,176
  Others         12,709       7,894        10,807       32,176      22,134
                 $          $  130,286  $         $         $  
                 152,378                   131,605      390,203     349,460
Cost of revenues
  Advertising    $         $          $        $         $  
                 54,010       41,070      48,472       146,566     111,823
  Mobile related 12,262       14,584       10,778       34,717      39,452
  Others         3,166        1,488        2,372        6,888       3,340
                 $         $          $        $         $  
                 69,438       57,142      61,622       188,171     154,615

TABLE

SINA CORPORATION
UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS
(U.S. Dollars in thousands, except per share data)
                Three months ended
                September 30, 2012                      September 30, 2011                      June 30, 2012
                                             Non-GAAP                                 Non-GAAP                              Non-GAAP
                Actual     Adjustments       Results    Actual      Adjustments       Results   Actual    Adjustments       Results
Advertising     $120,590                     $120,590   $101,018                      $101,018  $103,130                    $103,130
revenues
Non-advertising 31,788     (4,687)     (c) 27,101     29,268      (4,687)     (c) 24,581    28,475    (4,686)     (c) 23,789
revenues
Net revenues    $152,378   $              $147,691   $130,286    $              $125,599  $131,605  $              $126,919
                           (4,687)                                 (4,687)                              (4,686)
                           865         (a)                        895         (a)                     751         (a)
                           (4,687)     (c)                        (4,687)     (c)                     (4,686)     (c)
Gross profit    $ 82,940  $              $ 79,118  $ 73,144   $              $         $         $              $
                           (3,822)                                 (3,792)          69,352   69,983   (3,935)          66,048
                                                                    (3,520)     (a)
                           (5,465)     (a)                        (107)       (b)                     (2,968)     (a)
                           (12)        (b)                        (68,891)    (f)                     (12)        (b)
Operating       $ 79,151  $              $ 73,674  $132,947    $               $         $         $              $
expenses                   (5,477)                                 (72,518)          60,429   69,810   (2,980)          66,830
                                                                    4,415       (a)
                           6,330       (a)                        107         (b)                     3,719       (a)
                           12          (b)                        (4,687)     (c)                     12          (b)
                           (4,687)     (c)                        68,891      (f)                     (4,686)     (c)
Income/(loss)   $         $             $         $           $              $        $       $            $ 
from operations 3,789     1,655             5,444     (59,803)   68,726            8,923    173      (955)             (782)
                                                                    4,415       (a)
                           6,330       (a)                        107         (b)                     3,719       (a)
                           12          (b)                        (4,687)     (c)                     12          (b)
                           (4,687)     (c)                        3,909       (d)                     (4,686)     (c)
                           3,138       (d)                        281,162     (e)                     4,217       (d)
                           (3,004)     (e)                        68,891      (f)                     (32,770)    (e)
Net
income/(loss)   $         $             $ 11,667  $(336,338)  $               $         $         $               $ 
attributable to 9,878     1,789                                    353,797           17,459   33,245   (29,508)          3,737
SINA
Diluted net
income/(loss)   $                          $        $                           $       $                         $  
per share       0.14                         0.17       (5.10)                        0.26      0.49                        0.05
attributable to
SINA
Shares used in
computing
diluted
 net
income/(loss)
per share       66,874     -                 66,874     65,908      1,005       (g) 66,913    66,809    -                 66,809
attributable to
SINA
Gross margin -  55%        1%                56%        59%         1%                60%       53%       1%                54%
advertising
                Nine months ended
                September 30, 2012                      September 30, 2011
                                             Non-GAAP                                 Non-GAAP
                Actual     Adjustments       Results    Actual      Adjustments       Results
Advertising     $302,262                     $302,262   $265,150                      $265,150
revenues
Non-advertising 87,941     (14,059)    (c) 73,882     84,310      (14,059)    (c) 70,251
revenues
Net revenues    390,203    $               $376,144   $349,460    $               $335,401
                           (14,059)                                 (14,059)
                           2,423       (a)                        2,281       (a)
                           (14,059)    (c)                        (14,059)    (c)
Gross profit    $202,032   $               $190,396   $194,845    $               $183,067
                           (11,636)                                 (11,778)
                                                                    (9,031)     (a)
                           (11,399)    (a)                        (624)       (b)
                           (132)       (b)                        (68,891)    (f)
Operating       216,157    $               $204,626   $234,471    $               $155,925
expenses                   (11,531)                                 (78,546)
                                                                    11,312      (a)
                           13,822      (a)                        624         (b)
                           132         (b)                        (14,059)    (c)
                           (14,059)    (c)                        68,891      (f)
Income/(loss)   $(14,125)  $            $(14,230)  $           $              $
from operations            (105)                        (39,626)   66,768            27,142
                                                                    11,312      (a)
                           13,822      (a)                        624         (b)
                           132         (b)                        (14,059)    (c)
                           (14,059)    (c)                        10,745      (d)
                           10,933      (d)                        281,548     (e)
                           (38,835)    (e)                        68,891      (f)
Net
income/(loss)   $ 29,383  $(28,007)         $         $(311,371)  $               $
attributable to                              1,376                 359,061           47,690
SINA
Diluted net
income/(loss)   $                          $        $                           $  
per share       0.43                         0.01       (4.80)                        0.71
attributable to
SINA
Shares used in
computing
diluted
 net
income/(loss)
per share       66,822     -                 66,822     64,821      2,300       (g) 67,121
attributable to
SINA
Gross margin -  52%        0%          *     52%        58%         1%                59%
advertising
(a)To adjust stock-based compensation related to employee incentives.
(b)To adjust amortization of intangible assets.
(c)To adjust the recognition of deferred revenue mostly related to the license agreements resulting from the CRIC Transaction.
(d)To adjust share of equity investments' GAAP to Non-GAAP reconciling items, net of share of amortization of intangibles not on
their books.
(e)To adjust gain on sale of/(impairment) on equity investments
(f) To adjust for impairment of MVAS goodwill
(g)To adjust the number of shares used in computing diluted net loss per share from diluted net income per share.
 * Rounding



UNAUDITED RECONCILIATION OF SINA'S SHARE OF EQUITY INVESTMENTS' GAAP TO NON-GAAP RESULTS*
                Three months ended
                September 30, 2012               September 30, 2011               June 30, 2012
                Actual    Adjustments  Non-GAAP  Actual    Adjustments  Non-GAAP  Actual    Adjustments  Non-GAAP
                                       Results                          Results                          Results
 To adjust
 stock-based              $2,046                           $1,605                           $1,961
 compensation
 To adjust
 amortization
 expenses of
 intangible
  assets
 resulting from           749                              1,568                            1,663
 business
 acquisitions
 Earning/(loss)
 from equity    $1,226    $2,795       $4,021    $ 912    $3,173       $4,085    $(2,722)  $3,624       $ 902
 investments,
 net
 Share of
 amortization
 of equity
 investments'
  intangibles                         $   
 not on their   $ (343)   $ 343       -         $ (736)   $ 736       $   -   $ (593)   $ 593        $   -
 books
                $  883   $3,138       $4,021    $ 176    $3,909       $4,085    $(3,315)  $4,217       $ 902
                Nine months ended
                September 30, 2012               September 30, 2011
                Actual    Adjustments  Non-GAAP  Actual    Adjustments  Non-GAAP
                                       Results                          Results
 To adjust
 stock-based              $5,161                           $3,914
 compensation
 To adjust
 amortization
 expenses of
 intangible
  assets
 resulting from           4,100                            4,611
 business
 acquisitions
 Earning/(loss)
 from equity    $(4,681)  $9,261       $4,580    $3,461    $8,525       $11,986
 investments,
 net
 Share of
 amortization
 of equity
 investments'
  intangibles                         $                             $   
 not on their   $(1,672)  $1,672       -         $(2,220)  $2,220        -
 books
                $(6,353)  $10,933      $4,580    $1,241    $10,745      $11,986
* Earning/(loss) from equity investments is recorded one quarter in arrears.



SOURCE SINA Corporation

Website: http://corp.sina.com
 
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