China's Online Media Giant Sina's 2016 Net Revenues Rise Above Expectations
Yicai Global
/SOURCE : Yicai
China's Online Media Giant Sina's 2016 Net Revenues Rise Above Expectations

(Yicai Global) Feb. 23 -- Sina Corp [NASDAQ:SINA] achieved net revenues of USD1.03 billion in 2016, up 17 percent from a year earlier, shows the company's latest financial report. The online media giant's performance last year exceeded its own expectations, Sina said.

Sina yesterday released its unaudited financial reports for both the fourth quarter and fiscal year 2016. Sina Corp's financial earnings report shows throughout 2016, net profits attributable to Sina amounted to USD225.1 million, compared with USD25.7 million in 2015. The non-operating income last year was USD231.3 million, largely outnumbering the USD33.9 million in 2015. Sina posted annual operating profits of USD73.3 million in 2016, up from USD12.2 million in 2015.

In the last quarter of 2016, Sina had net revenues of USD313.4 million, an increase of 22 percent year-on-year. The net profits attributable to Sina reached USD19.9 million.

Sina's advertising revenues reached USD871.2 million last year, representing a 17 percent increase year-on-year. Non-advertising revenues hit USD159.7 million, up 16 percent. Advertising revenues for the last quarter in 2016 was USD269.6 million, an annual increase of 22 percent, while non-advertising revenues for the same quarter soared 33 percent to USD43.9 million.

Sina Weibo's monthly active users grew by 33 percent to reach 313 million in December 2016, some 90 percent of whom were mobile users. The average daily active users (DAUs) last December increased by 30 percent over the previous year to reach 139 million, Sina said in its financial report.

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