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Sina Posts Loss as China Slowdown Damps Online Advertising

Sina Corp., owner of China’s largest Twitter-like service, posted a first-quarter loss as an advertising slowdown damped revenue and the company spent more on developing mobile applications.

The net loss narrowed to $13.2 million from $13.7 million a year earlier, the New York-listed company said in a statement today. That compares with the $5.6 million loss, the average of 10 analysts’ estimates compiled by Bloomberg. Sales rose 19 percent to $126 million.