Weibo monetization is growing fast, as the mobile value added services revenues are declining.
SINA Corporation, the Shanghai based online media company, today announced its unaudited financial results for the fourth quarter ended December 31, 2012. According to the company press release, net revenues increased 10% year over year to $529.3 million. Advertising revenues grew to $412.9 million (+12% yoy). Net income attributable to SINA was $31.7 million, or $0.47 diluted net income per share attributable to SINA.
Mobile value-added services revenues for the fourth quarter of 2012 decreased 38% year over year to $13.2 million, while the rest of non-GAAP non-advertising revenues grew 181% to $10.6 million, mainly from Weibo value added services ("VAS"). As the market in China shifts towards mobile Internet, the Company expects to further reallocate its resources away from the low-margin MVAS business to Weibo VAS.
SINA estimates that its non-GAAP net revenues for the first quarter of 2013 will be between $115 million and $119 million, including advertising revenues to be between $94 million and $96 million, and non-GAAP non-advertising revenues to be between $21 million and $23 million.