SHANGHAI, Feb. 22, 2017 /PRNewswire/ -- SINA Corporation
(the "Company" or "SINA") (NASDAQ: SINA), a leading online media
company serving China and the
global Chinese communities, today announced its unaudited financial
results for the fourth quarter and the fiscal year ended
December 31, 2016.
Fourth Quarter 2016 Highlights
- Net revenues increased 22% year over year to $313.4 million. Non-GAAP net revenues increased
23% year over year to $310.8
million.
- Advertising revenues increased 21% year over year to
$269.6 million.
- Non-advertising revenues increased 33% year over year to
$43.9 million. Non-GAAP
non-advertising revenues were $41.3
million.
- Income from operations was $24.7
million. Non-GAAP income from operations increased 102% year
over year to $82.1 million. Non-GAAP
operating margin was 26%, up from 16% for the same period last
year.
- Net income attributable to SINA was $19.9 million, or $0.27 diluted net income per share attributable
to SINA. Non-GAAP net income attributable to SINA was $48.2 million, or $0.63 non-GAAP diluted net income per share
attributable to SINA.
- Weibo's monthly active users ("MAUs") in December 2016 grew 33% year over year to 313
million, 90% of which were mobile users. Average daily active users
("DAUs") in December 2016 grew 30%
year over year to 139 million.
Fiscal Year 2016 Highlights
- Net revenues increased 17% year over year to $1,030.9 million. Non-GAAP net revenues increased
17% year over year to $1,020.5
million, exceeding the Company's annual guidance between
$950 million and $1 billion.
- Advertising revenues increased 17% year over year to
$871.2 million.
- Non-advertising revenues increased 16% year over year to
$159.7 million. Non-GAAP
non-advertising revenues were $149.3
million.
- Income from operations was $73.3
million, compared to $12.2
million of last year. Non-GAAP income from operations
increased 191% to $178.7 million.
Non-GAAP operating margin was 18%, up from 7% in 2015.
- Net income attributable to SINA was $225.1 million, or $3.01 diluted net income per share attributable
to SINA. Non-GAAP net income attributable to SINA was $109.1 million, or $1.44 non-GAAP diluted net income per share
attributable to SINA.
"We closed a great year of 2016 with another strong quarter. Our
full year revenue exceeded $1
billion, representing an important milestone for the group."
said Charles Chao, Chairman and CEO
of SINA. "Weibo user growth continued its healthy pace and reached
313 million MAUs in December 2016.
Weibo demonstrated its social platform value by reinforcing content
ecosystem with strong network effect and building a more connected,
informed and engaging social community in China Internet space. Leveraging platform
effect, Weibo's monetization capability and efficiency has further
improved with non-GAAP operating margin reaching 35% in the fourth
quarter of 2016." said Mr. Chao.
"On the portal side, SINA has fully implemented its mobile
strategy, with mobile traffic from SINA News Application growing
significantly in the past twelve months." Mr. Chao added. "Heading
into 2017, we will continue to focus on mobile strategy to further
expand mobile user base and increase user time spent as well as
elevate mobile monetization capability to facilitate our portal
business return to a growth trajectory." Mr. Chao concluded.
Fourth Quarter 2016 Financial Results
For the fourth quarter of 2016, SINA reported net revenues of
$313.4 million, compared to
$256.2 million for the same period
last year. Non-GAAP net revenues for the fourth quarter of 2016
totaled $310.8 million, compared to
$253.6 million for the same period
last year.
Online advertising revenues for the fourth quarter of 2016 were
$269.6 million, compared to
$223.2 million for the same period
last year. The year-over-year growth in online advertising revenues
resulted from an increase of $58.2
million in Weibo advertising revenues, partially offset by a
decrease of $11.8 million of portal
advertising revenues.
Non-advertising revenues for the fourth quarter of 2016 were
$43.9 million, compared to
$33.0 million for the same period
last year. The year-over-year growth in non-advertising revenues
was mainly due to an increase of $5.5
million in portal non-advertising revenues and an increase
of $5.4 million in Weibo value added
services revenues. Non-GAAP non-advertising revenues for the fourth
quarter of 2016 were $41.3 million,
compared to $30.4 million for the
same period last year.
Gross margin for the fourth quarter of 2016 was 70%, up from 65%
for the same period last year. Advertising gross margin for the
fourth quarter of 2016 was 72%, up from 65% for the same period
last year. The increasing proportion of advertising revenue
contributed by SME customers in both portal and Weibo business is
the key driver of a higher gross margin for our advertising
business. Non-advertising gross margin for the fourth quarter of
2016 was 57%, down from 66% for the same period last year. The
decrease in non-advertising gross margin was primarily due to
increasing proportion of portal non-advertising revenues, which
contributed lower gross margin.
Operating expenses for the fourth quarter of 2016 totaled
$194.2 million, compared to
$137.5 million for the same period
last year. The increase was mainly resulted from a $40.2 million goodwill and acquired intangibles
impairment charge we recorded for certain business line. Non-GAAP
operating expenses for the fourth quarter of 2016 totaled
$136.2 million, compared to
$125.0 million for the same period
last year.
Income from operations for the fourth quarter of 2016 was
$24.7 million, compared to
$29.6 million for the same period
last year. Non-GAAP income from operations for the fourth quarter
of 2016 grew 102% to $82.1 million.
Non-GAAP operating margin was 26%, up from 16% for the same period
last year. The significant improvement in non-GAAP income from
operations and operation margin attributes to the operational
leverage and margin expansion achieved by Weibo.
Non-operating income for the fourth quarter of 2016 was
$28.8 million, compared to a
non-operating loss of $2.1 million
for the same period last year. Non-operating income for the fourth
quarter 2016 mainly included (i) a $48.6
million net gain on sale of and impairment on investments,
which is excluded under non-GAAP measures; (ii) a $25.8 million loss in the fair value change of
the Company's option liability related to E-House, which is
excluded under non-GAAP measures.
Net income attributable to SINA for the fourth quarter of 2016
was $19.9 million, compared to
$14.6 million for the same period
last year. Diluted net income per share attributable to SINA for
the fourth quarter of 2016 was $0.27,
compared to $0.21 for the same period
last year. Non-GAAP net income attributable to SINA for the fourth
quarter of 2016 was $48.2 million,
compared to $24.8 million for the
same period last year. Non-GAAP diluted net income per share
attributable to SINA for the fourth quarter of 2016 was
$0.63, compared to $0.35 for the same period last year.
As of December 31, 2016, SINA's
cash, cash equivalents and short-term investments totaled
$1.8 billion, compared to
$2.2 billion as of December 31, 2015. The decrease in cash, cash
equivalents, and short term investments was mainly due to a
principal repayment of $646.9 million
upon the put option exercised by the holders of convertible senior
note, partially offset by the operating cash inflow and proceeds
generated from disposal of certain investments in 2016. For the
fourth quarter of 2016, net cash provided by operating activities
was $92.7 million, capital
expenditures totaled $21.5 million,
and depreciation and amortization expenses amounted to $7.6 million.
Fiscal Year 2016 Financial Results
For fiscal year 2016, SINA reported net revenues of $1,030.9 million, compared to $880.7 million in 2015. Non-GAAP net revenues for
2016 totaled $1,020.5 million,
compared to $870.2 million in
2015.
Online advertising revenues in 2016 were $871.2 million, compared to $743.2 million in 2015. The year-over-year growth
in online advertising revenues resulted from an increase of
$164.7 million in Weibo advertising
revenues, partially offset by a decline of $36.7 million of portal advertising revenues.
Non-advertising revenues in 2016 were $159.7 million, compared to $137.4 million in 2015. The year-over-year growth
in non-advertising revenues was attributable to an increase of
$13.0 million in portal
non-advertising revenues and an increase of $9.3 million in Weibo value added services
revenues. Non-GAAP non-advertising revenues in 2016 were
$149.3 million, compared to
$127.0 million in 2015.
Gross margin in 2016 was 66%, up from 62% in 2015. Advertising
gross margin in 2016 was 67%, up from 62% in 2015. Non-advertising
gross margin in 2016 was 58%, compared to 60% in 2015. Non-GAAP
gross margin in 2016 was 66%, up from 62% in 2015. Non-GAAP
advertising gross margin in 2016 was 68%, up from 63% in 2015.
Non-GAAP non-advertising gross margin in 2016 was 55%, compared to
57% in 2015.
Operating expenses in 2016 totaled $603.0
million, compared to $533.1
million in 2015. The increase was mainly resulted from a
$40.2 million goodwill and acquired
intangibles impairment charge we recorded for certain business
line. Non-GAAP operating expenses in 2016 totaled $494.8 million, compared to $478.6 million in 2015.
Income from operations in 2016 was $73.3
million, compared to $12.2
million in 2015. Operating margin in 2016 was 7%, up from 1%
in 2015. Non-GAAP income from operations in 2016 was $178.7 million, compared to $61.5 million in 2015. Non-GAAP operating margin
was 18%, up from 7% in 2015.
Non-operating income in 2016 was $231.3
million, compared to $33.9
million in 2015. Non-operating income in 2016 mainly
included (i) a $245.3 million net
gain on sale of and impairment on investments, which is excluded
under non-GAAP measures; (ii) a $28.5
million loss on change in fair value of the Company's option
liability related to E-House, which is excluded under non-GAAP
measures; and (iii) a $26.2 million
interest and other income. Non-operating income in 2015 mainly
included (i) a $22.4 million interest
and other income; and (ii) an $11.3
million net gain on sale of and impairment on investments,
which is excluded under non-GAAP measures.
Net income attributable to SINA in 2016 was $225.1 million, compared to $25.7 million in 2015. Diluted net income per
share attributable to SINA in 2016 was $3.01, compared to $0.40 in 2015. Non-GAAP net income attributable
to SINA in 2016 was $109.1 million,
compared to $56.2 million in 2015.
Non-GAAP diluted net income per share attributable to SINA in 2016
was $1.44, compared to $0.89 for 2015.
For the fiscal year of 2016, net cash provided by operating
activities was $443.6 million,
capital expenditures totaled $36.7
million, and depreciation and amortization expenses amounted
to $28.5 million.
Other Developments
Repayment of Convertible Senior Notes
In November 2013, SINA issued
$800 million principal amount of
5-year convertible senior notes. Based on terms of the indenture,
on December 1, 2016, portion of the
convertible notes holders exercised their put option right to
require us to redeem their notes at a price equal to the principal
amount of the notes that they hold plus accrued and unpaid interest
to the redemption date. We paid approximately $646.9 million of the convertible note principle
amount to repurchase such notes. Following the partial
repayment of the debt, the remaining $153.1
million of convertible senior notes were outstanding on
December 31, 2016, which has a
maturity date of December 1,
2018.
Disposal of Shares in E-House Holdings Ltd. and Investment in
Leju Holdings Limited
Pursuant to a shareholders agreement dated August 12, 2016 by and among SINA, E-House
Holdings Ltd. ("Parent") and certain other shareholders of E-House,
Parent exercised an option right in December
2016 to repurchase all of the equity interest SINA held. As
a result, we disposed of our beneficial ownership in E-House on
December 30, 2016 for a combination
of 40,651,187 ordinary shares of Leju Holdings Limited ("Leju"),
representing 30% of the then total outstanding ordinary shares of
Leju, and approximately $129 million
cash consideration. Immediately following the disposal, we became a
principal shareholder of Leju, holding approximately 31.1% of the
total outstanding ordinary shares of Leju, and recorded the
investment under equity-method accounting.
Business Outlook
For the year 2017, SINA estimates that its non-GAAP net revenues
are between RMB 9 billion and RMB 10
billion, or US$ 1.30 billion and US$
1.44 billion assume US dollar and RMB exchange rate of
6.9448, which was the closing rate on December 31, 2016. Such revenue forecast excludes
the recognition of $10.4 million in
deferred license revenues from Leju, a subsidiary of E-House. This
forecast reflects SINA's current and preliminary view, which is
subject to change.
Non-GAAP Measures
This release contains the following non-GAAP financial measures:
non-GAAP net revenues, non-GAAP non-advertising revenues, non-GAAP
advertising and non-advertising gross margin, non-GAAP operating
expenses, non-GAAP income (loss) from operations, non-GAAP net
income (loss) attributable to SINA and non-GAAP diluted net income
(loss) per share attributable to SINA. These non-GAAP financial
measures should be considered in addition to, not as a substitute
for, measures of the Company's financial performance prepared in
accordance with U.S. 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.
The Company's non-GAAP financial measures exclude recognition of
deferred revenues in relation to the equity investment in E-House,
stock-based compensation, amortization of intangible assets,
adjustment for non-GAAP to GAAP reconciling items on the share of
equity method investments, gain/loss on sale of
investment/business, deemed disposal and impairment on investment,
impairment on goodwill and acquired intangibles, change in fair
value in option liability, amortization of convertible debt
issuance cost, income tax effects of above non-GAAP to GAAP
reconciling items and adjustments for non-GAAP to GAAP reconciling
items for the income (loss) attributable to non-controlling
interests. The Company's management uses these non-GAAP financial
measures in their financial and operating decision-making, because
management believes these measures reflect the Company's ongoing
business operations in a manner that allows more meaningful
period-to-period comparisons. The Company believes that these
non-GAAP financial measures provide useful information to investors
and others in the following ways: (i) in comparing the Company's
current financial results with the Company's past financial results
in a consistent manner, and (ii) 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
also believes that the non-GAAP financial measures provide useful
information to both management and investors by excluding certain
expenses, gain/loss 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 the Company's core operating
results and business outlook.
Use of non-GAAP financial measures has limitations. The
Company's non-GAAP financial measures do not include all income and
expense items that affect the Company's operations. They may
not be comparable to non-GAAP financial measures used by other
companies. Management compensates for these limitations by also
considering the Company's financial results prepared in accordance
with U.S. GAAP. Reconciliations of the Company's non-GAAP measures
to the nearest comparable GAAP measures are set forth in the
section below titled "Unaudited Reconciliation of Non-GAAP to GAAP
Results."
Conference Call
SINA will host a conference call from 9:10 p.m. – 9:50 p.m.
Eastern Time on February 22,
2017 (or 10:10 a.m. –
10:50 a.m. Beijing Time on
February 23, 2017) 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.cn. The
conference call can be accessed as follows:
US:
|
+1 845 675
0438
|
Hong Kong:
|
+852 3018
6776
|
China:
|
400 120
0654
|
International:
|
+65 6713
5440
|
Passcode for all
regions:
|
72564850
|
A replay of the conference call will be available through
morning Eastern Time March 2, 2017.
The dial-in number is +61 2 9003 4211. The passcode for the replay
is 72564850.
About SINA
We are a leading online media company serving China and the global Chinese communities. Our
digital media network of SINA.com (portal), SINA.cn (mobile
portal), SINA Mobile Apps and Weibo.com (social media) enables
Internet users to access professional media and user generated
content in multi-media formats from personal computers and mobile
devices and share their interests with friends and
acquaintances.
SINA.com offers distinct and targeted professional content on
each of its region-specific websites and a full range of
complementary offerings. SINA.cn and SINA Mobile Apps provide news
information, professional and entertainment content from SINA.com
customized for mobile users in WAP (mobile browser) and mobile
application format. Weibo is a leading social media platform for
people to create, distribute and discover Chinese-language content.
Based on an open platform architecture, Weibo allows users to
create and post feeds and attach multi-media content, as well as
access a wide range of organically and third-party developed
applications, such as online games.
Through these properties and other product lines, we offer an
array of online media and social media services to our users to
create a rich canvas for businesses and advertisers to effectively
connect and engage with their targeted audiences.
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 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 press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about the
Company's beliefs and expectations, are forward-looking statements.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "confidence," "estimates" and similar
statements. SINA assumes no obligation to update the
forward-looking statements in this press release and elsewhere.
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 failure to meet internal or
external expectations of future performance given the rapidly
evolving markets; condition of the global financial and credit
market; the uncertain regulatory landscape in China; fluctuations in the Company's quarterly
operating results; the Company's reliance on online advertising
sales and value-added services for a majority of its revenues;
failure to successfully develop, introduce, drive adoption of or
monetize new features and products, including portal, Weibo and
MVAS products; failure to enter and develop the small and medium
enterprise market by the Company or through cooperation with other
parties, such as Alibaba; failure to successfully integrate
acquired businesses; risks associated with the Company's
investments, including equity pick-up and impairment; and 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, 2015 and other
filings with the Securities and Exchange Commission.
Contact:
Investor Relations
SINA Corporation
Phone: 8610-5898 3336
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
|
|
Year
ended
|
|
December
31,
|
|
September
30,
|
|
December
31,
|
|
2016
|
|
2015
|
|
2016
|
|
2016
|
|
2015
|
Net
revenues:
|
|
|
|
|
|
|
|
|
|
Advertising
|
$
269,556
|
|
$
223,159
|
|
$
233,633
|
|
$
871,187
|
|
$
743,229
|
Non-advertising
|
43,868
|
|
33,031
|
|
41,242
|
|
159,749
|
|
137,440
|
|
313,424
|
|
256,190
|
|
274,875
|
|
1,030,936
|
|
880,669
|
Cost of revenues
*:
|
|
|
|
|
|
|
|
|
|
Advertising
|
75,578
|
|
77,787
|
|
71,194
|
|
288,044
|
|
280,455
|
Non-advertising
|
18,980
|
|
11,267
|
|
19,133
|
|
66,652
|
|
54,925
|
|
94,558
|
|
89,054
|
|
90,327
|
|
354,696
|
|
335,380
|
Gross
profit
|
218,866
|
|
167,136
|
|
184,548
|
|
676,240
|
|
545,289
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Sales and marketing *
|
74,295
|
|
62,851
|
|
64,176
|
|
247,068
|
|
230,428
|
Product development *
|
54,538
|
|
51,953
|
|
55,674
|
|
216,228
|
|
209,771
|
General and administrative *
|
25,166
|
|
22,745
|
|
28,366
|
|
99,474
|
|
92,868
|
Goodwill and acquired intangibles impairment
|
40,194
|
|
-
|
|
-
|
|
40,194
|
|
-
|
|
194,193
|
|
137,549
|
|
148,216
|
|
602,964
|
|
533,067
|
Income from
operations
|
24,673
|
|
29,587
|
|
36,332
|
|
73,276
|
|
12,222
|
|
|
|
|
|
|
|
|
|
|
Non-operating
income (loss):
|
|
|
|
|
|
|
|
|
|
Earning (Loss) from equity method investments, net
|
(546)
|
|
(798)
|
|
5,534
|
|
(11,766)
|
|
218
|
Gain
on sale of investments/business and impairment on investments,
net
|
48,603
|
|
(5,570)
|
|
133,505
|
|
245,260
|
|
11,311
|
Fair
value change in option liability
|
(25,803)
|
|
-
|
|
(2,653)
|
|
(28,456)
|
|
-
|
Interest and other income, net
|
6,594
|
|
4,262
|
|
6,703
|
|
26,213
|
|
22,392
|
|
28,848
|
|
(2,106)
|
|
143,089
|
|
231,251
|
|
33,921
|
|
|
|
|
|
|
|
|
|
|
Income before
income taxes
|
53,521
|
|
27,481
|
|
179,421
|
|
304,527
|
|
46,143
|
Income tax
expenses
|
(5,438)
|
|
(5,627)
|
|
(19,050)
|
|
(27,219)
|
|
(10,420)
|
|
|
|
|
|
|
|
|
|
|
Net
income
|
48,083
|
|
21,854
|
|
160,371
|
|
277,308
|
|
35,723
|
Less:
Net income attributable to non-controlling interests
|
28,161
|
|
7,301
|
|
13,853
|
|
52,221
|
|
10,045
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to SINA
|
$
19,922
|
|
$
14,553
|
|
$
146,518
|
|
$
225,087
|
|
$
25,678
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income
per share attributable to SINA
|
$
0.28
|
|
$
0.22
|
|
$
2.08
|
|
$
3.20
|
|
$
0.43
|
Diluted net income
per share attributable to SINA **
|
$
0.27
|
|
$
0.21
|
|
$
1.90
|
|
$
3.01
|
|
$
0.40
|
|
|
|
|
|
|
|
|
|
|
Shares used in
computing basic
|
|
|
|
|
|
|
|
|
|
net
income per share attributable to SINA
|
70,981
|
|
65,272
|
|
70,420
|
|
70,301
|
|
60,237
|
Shares used in
computing diluted
|
|
|
|
|
|
|
|
|
|
net
income per share attributable to SINA
|
72,299
|
|
65,927
|
|
78,303
|
|
77,511
|
|
60,648
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Stock-based
compensation in each category:
|
|
|
|
|
|
|
|
|
|
Cost of revenues - advertising
|
$
2,021
|
|
$
1,141
|
|
$
2,380
|
|
$
7,742
|
|
$
5,272
|
Sales and marketing
|
4,559
|
|
2,456
|
|
4,791
|
|
15,496
|
|
10,793
|
Product development
|
5,018
|
|
3,371
|
|
7,261
|
|
20,793
|
|
14,234
|
General and administrative
|
7,868
|
|
5,881
|
|
7,853
|
|
29,797
|
|
25,840
|
|
|
|
|
|
|
|
|
|
|
** Net income
attributable to SINA is adjusted for diluted shares issued by our
subsidiary and equity method investments.
|
SINA
CORPORATION
|
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
|
(U.S. Dollars in
thousands)
|
|
|
|
|
|
|
|
|
December
31,
|
|
|
December
31,
|
|
|
2016
|
|
|
2015
|
|
Assets
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
$
1,407,625
|
|
|
$
763,439
|
|
Short-term
investments
|
389,440
|
|
|
1,446,414
|
|
Restricted
cash
|
241,306
|
|
|
140,652
|
|
Accounts
receivable, net
|
210,328
|
|
|
228,732
|
|
Prepaid expenses
and other current assets *
|
407,373
|
|
|
135,416
|
|
Subtotal
|
2,656,072
|
|
|
2,714,653
|
|
|
|
|
|
|
Property and
equipment, net
|
241,680
|
|
|
47,495
|
Goodwill and
intangible assets, net
|
12,108
|
|
|
61,954
|
Long-term
investments
|
1,318,207
|
|
|
1,212,640
|
Other
assets
|
56,807
|
|
|
320,205
|
Total
assets
|
$
4,284,874
|
|
|
$
4,356,947
|
|
|
|
|
|
|
|
Liabilities and
Shareholders' Equity
|
|
Current
liabilities:
|
|
|
|
|
|
Accounts payable
**
|
$
108,381
|
|
|
$
81,351
|
|
Amount due to
customers
|
241,306
|
|
|
140,652
|
|
Accrued
liabilities **
|
452,751
|
|
|
265,490
|
|
Short-term
loan
|
33,152
|
|
|
-
|
|
Convertible debt
*
|
-
|
|
|
795,108
|
|
Deferred
revenues
|
95,566
|
|
|
79,528
|
|
Income taxes
payable
|
40,127
|
|
|
16,426
|
|
Subtotal
|
971,283
|
|
|
1,378,555
|
|
|
|
|
|
|
Convertible debt
*
|
153,092
|
|
|
-
|
Long-term deferred
revenues
|
65,188
|
|
|
76,003
|
Other long-term
liabilities
|
4,332
|
|
|
25,721
|
|
Total
liabilities
|
1,193,895
|
|
|
1,480,279
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
SINA shareholders'
equity
|
2,679,590
|
|
|
2,565,272
|
|
Non-controlling
interests
|
411,389
|
|
|
311,396
|
|
Total shareholders'
equity
|
3,090,979
|
|
|
2,876,668
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
$
4,284,874
|
|
|
$
4,356,947
|
|
|
|
|
|
|
* Effectively
January 2016, ASU 2015-3 issued by FASB requires entities to
present the issuance costs of debt in the balance sheet as a direct
deduction from the related debt rather than assets. Accordingly,
the Company retrospectively reclassified $4.9 million of issuance
cost of debt from prepaid expenses and other current assets into
convertible debt as of December 31, 2015. On December 1, 2016, the
Company repurchased $646.9 million principle amount of convertible
debt upon the exercise of put option by the debt holders and the
remaining $153.1 million of convertible debts were outstanding at
December 31, 2016, which has a maturity date of December 1,
2018.
|
|
|
|
|
|
|
** Commencing on
January 1, 2016, in order to enhance comparability with industry
peers, payables that have been invoiced or formally agreed with the
suppliers were recorded in accounts payable. To conform to current
period presentations, the relevant amounts in prior periods have
been reclassified from accrued liabilities accordingly. Such
reclassification amounted to $77.8 million as of December 31,
2015.
|
SINA
CORPORATION
|
UNAUDITED
ADDITIONAL INFORMATION
|
(U.S. Dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
Year
ended
|
|
December
31,
|
|
September
30,
|
|
December
31,
|
|
2016
|
|
2015
|
|
2016
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
Net
revenues
|
|
|
|
|
|
|
|
|
|
Portal:
|
|
|
|
|
|
|
|
|
|
Portal Advertising
|
$
81,820
|
|
$
93,632
|
|
$
79,855
|
|
$
304,090
|
|
$
340,814
|
Other
|
18,990
|
|
13,533
|
|
21,058
|
|
74,931
|
|
61,964
|
Subtotal
|
100,810
|
|
107,165
|
|
100,913
|
|
379,021
|
|
402,778
|
|
|
|
|
|
|
|
|
|
|
Weibo:
|
|
|
|
|
|
|
|
|
|
Advertising and marketing
|
187,870
|
|
129,527
|
|
156,693
|
|
570,982
|
|
402,415
|
Weibo
VAS
|
24,878
|
|
19,498
|
|
20,184
|
|
84,818
|
|
75,476
|
Subtotal
|
212,748
|
|
149,025
|
|
176,877
|
|
655,800
|
|
477,891
|
|
|
|
|
|
|
|
|
|
|
Elimination
|
(134)
|
|
-
|
|
(2,915)
|
|
(3,885)
|
|
-
|
|
$
313,424
|
|
$
256,190
|
|
$
274,875
|
|
$
1,030,936
|
|
$
880,669
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
|
|
|
|
|
|
|
|
Portal:
|
|
|
|
|
|
|
|
|
|
Portal Advertising
|
$
31,315
|
|
$
40,601
|
|
$
32,540
|
|
$
136,196
|
|
$
157,862
|
Other
|
13,864
|
|
6,348
|
|
13,458
|
|
47,555
|
|
35,558
|
Subtotal
|
45,179
|
|
46,949
|
|
45,998
|
|
183,751
|
|
193,420
|
|
|
|
|
|
|
|
|
|
|
Weibo
|
49,454
|
|
42,105
|
|
44,494
|
|
171,231
|
|
141,960
|
|
|
|
|
|
|
|
|
|
|
Elimination
|
(75)
|
|
-
|
|
(165)
|
|
(286)
|
|
-
|
|
$
94,558
|
|
$
89,054
|
|
$
90,327
|
|
$
354,696
|
|
$
335,380
|
|
|
|
|
|
|
|
|
|
|
Gross
margin
|
|
|
|
|
|
|
|
|
|
Portal
|
55%
|
|
56%
|
|
54%
|
|
52%
|
|
52%
|
Weibo
|
77%
|
|
72%
|
|
75%
|
|
74%
|
|
70%
|
|
70%
|
|
65%
|
|
67%
|
|
66%
|
|
62%
|
SINA
CORPORATION
|
UNAUDITED
RECONCILIATION OF NON-GAAP TO GAAP RESULTS
|
(U.S. Dollars in
thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
December 31,
2016
|
|
December 31,
2015
|
|
September 30,
2016
|
|
|
|
|
|
Non-GAAP
|
|
|
|
|
|
Non-GAAP
|
|
|
|
|
|
Non-GAAP
|
|
Actual
|
|
Adjustments
|
|
Results
|
|
Actual
|
|
Adjustments
|
|
Results
|
|
Actual
|
|
Adjustments
|
|
Results
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advertising
revenues
|
$
269,556
|
|
|
|
$
269,556
|
|
$
223,159
|
|
|
|
$
223,159
|
|
$
233,633
|
|
|
|
$
233,633
|
Non-advertising
revenues
|
43,868
|
|
(2,609)
|
(a)
|
41,259
|
|
33,031
|
|
(2,609)
|
(a)
|
30,422
|
|
41,242
|
|
(2,609)
|
(a)
|
38,633
|
Net
revenues
|
$
313,424
|
|
$
(2,609)
|
|
$
310,815
|
|
$
256,190
|
|
$
(2,609)
|
|
$
253,581
|
|
$
274,875
|
|
$
(2,609)
|
|
$
272,266
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2,609)
|
(a)
|
|
|
|
|
(2,609)
|
(a)
|
|
|
|
|
(2,609)
|
(a)
|
|
|
|
|
2,021
|
(b)
|
|
|
|
|
1,141
|
(b)
|
|
|
|
|
2,380
|
(b)
|
|
Gross
profit
|
$
218,866
|
|
$
(588)
|
|
$
218,278
|
|
$
167,136
|
|
$
(1,468)
|
|
$
165,668
|
|
$
184,548
|
|
$
(229)
|
|
$
184,319
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(17,445)
|
(b)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(399)
|
(c)
|
|
|
|
|
(11,708)
|
(b)
|
|
|
|
|
(19,905)
|
(b)
|
|
|
|
|
(40,194)
|
(d)
|
|
|
|
|
(873)
|
(c)
|
|
|
|
|
(457)
|
(c)
|
|
Operating
expenses
|
$
194,193
|
|
$
(58,038)
|
|
$
136,155
|
|
$
137,549
|
|
$
(12,581)
|
|
$
124,968
|
|
$
148,216
|
|
$
(20,362)
|
|
$
127,854
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2,609)
|
(a)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,466
|
(b)
|
|
|
|
|
(2,609)
|
(a)
|
|
|
|
|
(2,609)
|
(a)
|
|
|
|
|
399
|
(c)
|
|
|
|
|
12,849
|
(b)
|
|
|
|
|
22,285
|
(b)
|
|
|
|
|
40,194
|
(d)
|
|
|
|
|
873
|
(c)
|
|
|
|
|
457
|
(c)
|
|
Income from
operations
|
$
24,673
|
|
$
57,450
|
|
$
82,123
|
|
$
29,587
|
|
$
11,113
|
|
$
40,700
|
|
$
36,332
|
|
$
20,133
|
|
$
56,465
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2,609)
|
(a)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,466
|
(b)
|
|
|
|
|
|
|
|
|
|
|
(2,609)
|
(a)
|
|
|
|
|
399
|
(c)
|
|
|
|
|
(2,609)
|
(a)
|
|
|
|
|
22,285
|
(b)
|
|
|
|
|
40,194
|
(d)
|
|
|
|
|
12,849
|
(b)
|
|
|
|
|
457
|
(c)
|
|
|
|
|
3,243
|
(e)
|
|
|
|
|
873
|
(c)
|
|
|
|
|
2,032
|
(e)
|
|
|
|
|
(48,603)
|
(f)
|
|
|
|
|
(719)
|
(e)
|
|
|
|
|
(133,505)
|
(f)
|
|
|
|
|
25,803
|
(g)
|
|
|
|
|
5,570
|
(f)
|
|
|
|
|
2,653
|
(g)
|
|
|
|
|
(9,302)
|
(h)
|
|
|
|
|
(6,592)
|
(h)
|
|
|
|
|
(10,650)
|
(h)
|
|
|
|
|
699
|
(i)
|
|
|
|
|
1,089
|
(i)
|
|
|
|
|
1,398
|
(i)
|
|
|
|
|
(964)
|
(j)
|
|
|
|
|
(202)
|
(j)
|
|
|
|
|
15,133
|
(j)
|
|
Net income
attributable to SINA
|
$
19,922
|
|
$
28,326
|
|
$
48,248
|
|
$
14,553
|
|
$
10,259
|
|
$
24,812
|
|
$
146,518
|
|
$
(102,806)
|
|
$
43,712
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income
per share attributable to SINA *
|
$
0.27
|
|
|
|
$
0.63
|
|
$
0.21
|
|
|
|
$
0.35
|
|
$
1.90
|
|
|
|
$
0.56
|
Shares used in
computing diluted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
net
income per share attributable to SINA
|
72,299
|
|
5,022
|
(k)
|
77,321
|
|
65,927
|
|
6,468
|
(k)
|
72,395
|
|
78,303
|
|
-
|
|
78,303
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross margin -
advertising
|
72%
|
|
1%
|
|
73%
|
|
65%
|
|
1%
|
|
66%
|
|
70%
|
|
1%
|
|
71%
|
Gross margin -
non-advertising
|
57%
|
|
-3%
|
|
54%
|
|
66%
|
|
-3%
|
|
63%
|
|
54%
|
|
-4%
|
|
50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
ended
|
|
|
|
|
|
|
|
December 31,
2016
|
|
December 31,
2015
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP
|
|
|
|
|
|
Non-GAAP
|
|
|
|
|
|
|
|
Actual
|
|
Adjustments
|
|
Results
|
|
Actual
|
|
Adjustments
|
|
Results
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advertising
revenues
|
$
871,187
|
|
|
|
$
871,187
|
|
$
743,229
|
|
|
|
$
743,229
|
|
|
|
|
|
|
Non-advertising
revenues
|
159,749
|
|
(10,436)
|
(a)
|
149,313
|
|
137,440
|
|
(10,436)
|
(a)
|
127,004
|
|
|
|
|
|
|
Net
revenues
|
$1,030,936
|
|
$
(10,436)
|
|
$1,020,500
|
|
$
880,669
|
|
$
(10,436)
|
|
$
870,233
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(10,436)
|
(a)
|
|
|
|
|
(10,436)
|
(a)
|
|
|
|
|
|
|
|
|
|
|
7,742
|
(b)
|
|
|
|
|
5,272
|
(b)
|
|
|
|
|
|
|
|
Gross
profit
|
$
676,240
|
|
$
(2,694)
|
|
$
673,546
|
|
$
545,289
|
|
$
(5,164)
|
|
$
540,125
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(66,086)
|
(b)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,874)
|
(c)
|
|
|
|
|
(50,867)
|
(b)
|
|
|
|
|
|
|
|
|
|
|
(40,194)
|
(d)
|
|
|
|
|
(3,564)
|
(c)
|
|
|
|
|
|
|
|
Operating
expenses
|
$
602,964
|
|
$
(108,154)
|
|
$
494,810
|
|
$
533,067
|
|
$
(54,431)
|
|
$
478,636
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(10,436)
|
(a)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
73,828
|
(b)
|
|
|
|
|
(10,436)
|
(a)
|
|
|
|
|
|
|
|
|
|
|
1,874
|
(c)
|
|
|
|
|
56,139
|
(b)
|
|
|
|
|
|
|
|
|
|
|
40,194
|
(d)
|
|
|
|
|
3,564
|
(c)
|
|
|
|
|
|
|
|
Income from
operations
|
$
73,276
|
|
$
105,460
|
|
$
178,736
|
|
$
12,222
|
|
$
49,267
|
|
$
61,489
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(10,436)
|
(a)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
73,828
|
(b)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,874
|
(c)
|
|
|
|
|
(10,436)
|
(a)
|
|
|
|
|
|
|
|
|
|
|
40,194
|
(d)
|
|
|
|
|
56,139
|
(b)
|
|
|
|
|
|
|
|
|
|
|
7,221
|
(e)
|
|
|
|
|
3,564
|
(c)
|
|
|
|
|
|
|
|
|
|
|
(245,260)
|
(f)
|
|
|
|
|
5,332
|
(e)
|
|
|
|
|
|
|
|
|
|
|
28,456
|
(g)
|
|
|
|
|
(11,311)
|
(f)
|
|
|
|
|
|
|
|
|
|
|
(30,117)
|
(h)
|
|
|
|
|
(16,321)
|
(h)
|
|
|
|
|
|
|
|
|
|
|
4,266
|
(i)
|
|
|
|
|
4,393
|
(i)
|
|
|
|
|
|
|
|
|
|
|
13,944
|
(j)
|
|
|
|
|
(825)
|
(j)
|
|
|
|
|
|
|
|
Net income
attributable to SINA
|
$
225,087
|
|
$
(116,030)
|
|
$
109,057
|
|
$
25,678
|
|
$
30,535
|
|
$
56,213
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income
per share attributable to SINA *
|
$
3.01
|
|
|
|
$
1.44
|
|
$
0.40
|
|
|
|
$
0.89
|
|
|
|
|
|
|
Shares used in
computing diluted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
net
income per share attributable to SINA
|
77,511
|
|
-
|
|
77,511
|
|
60,648
|
|
-
|
|
60,648
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross margin -
advertising
|
67%
|
|
1%
|
|
68%
|
|
62%
|
|
1%
|
|
63%
|
|
|
|
|
|
|
Gross margin -
non-advertising
|
58%
|
|
-3%
|
|
55%
|
|
60%
|
|
-3%
|
|
57%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) To
exclude the recognition of deferred revenue related to the license
agreements granted to E-House.
|
(b) To
exclude stock-based compensation.
|
(c) To
adjust amortization of intangible assets.
|
(d) To exclude
goodwill and acquired intangibles impairment
|
(e) To
exclude the Non-GAAP to GAAP reconciling items on the share of
equity method investments, net of share of amortization of
intangibles not on their books.
|
(f) To
exclude (gain) loss on sale of investments/business, (gain) loss on
deemed disposal and impairment on investments, net.
|
(g) To
exclude the change in fair value of option
liability.
|
(h) To
exclude Non-GAAP to GAAP reconciling items for the income
attributable to non-controlling interests.
|
(i) To
exclude the amortization of convertible debt issuance
cost.
|
(j) To
exclude the provision (benefit) for income tax related to item
(c),(d) and (f). Other non-GAAP to GAAP reconciling items have no
income tax effect.**
|
(k) To
adjust the number of shares for dilution resulted from convertible
debt and unvested equity granted.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Net income
(loss) attributable to SINA is adjusted for diluted shares issued
by our subsidiary and equity method investments.
|
** Most of the
reconciliation items were recorded in entities in tax free
jurisdictions hence no income tax implications. For impairment on
investments, full valuation allowances were made due to as the
Company does not expect they can be realized in the foreseeable
future.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED
RECONCILIATION OF SINA'S SHARE OF EQUITY INVESTMENTS' NON-GAAP TO
GAAP RESULTS*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
December 31,
2016
|
|
December 31,
2015
|
|
September 30,
2016
|
|
Actual
|
|
Adjustments
|
|
Non-GAAP
Results
|
|
Actual
|
|
Adjustments
|
|
Non-GAAP
Results
|
|
Actual
|
|
Adjustments
|
|
Non-GAAP
Results
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To exclude
stock-based compensation
|
|
|
$
3,421
|
|
|
|
|
|
$
1,480
|
|
|
|
|
|
$
1,409
|
|
|
To exclude
amortization of intangible
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
assets
resulting from business acquisitions
|
|
|
1,213
|
|
|
|
|
|
608
|
|
|
|
|
|
618
|
|
|
To exclude (gain)loss on disposal
and impairment on investments
|
|
|
89
|
|
|
|
|
|
(4,752)
|
|
|
|
|
|
(12)
|
|
|
To exclude
(gain)loss resulting from the fair value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
changes in
investments
|
|
|
(1,340)
|
|
|
|
|
|
1,836
|
|
|
|
|
|
41
|
|
|
To exclude tax
impacts related
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
to
amortization of intangible assets
|
|
|
(275)
|
|
|
|
|
|
(186)
|
|
|
|
|
|
(179)
|
|
|
Earning (Loss)
from equity method investments, net
|
$
(411)
|
|
$
3,108
|
|
$
2,697
|
|
$
(503)
|
|
$
(1,014)
|
|
$
(1,517)
|
|
$
5,689
|
|
$
1,877
|
|
$
7,566
|
Share of
amortization of equity investments'
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
intangibles
not on their books
|
(166)
|
|
166
|
|
-
|
|
(393)
|
|
393
|
|
-
|
|
(173)
|
|
173
|
|
-
|
Share of tax
impacts related to amortization of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
equity
investments' intangibles not on their books
|
31
|
|
(31)
|
|
-
|
|
98
|
|
(98)
|
|
-
|
|
18
|
|
(18)
|
|
-
|
|
$
(546)
|
|
$
3,243
|
|
$
2,697
|
|
$
(798)
|
|
$
(719)
|
|
$
(1,517)
|
|
$
5,534
|
|
$
2,032
|
|
$
7,566
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
ended
|
|
|
|
|
|
|
|
December 31,
2016
|
|
December 31,
2015
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP
|
|
|
|
|
|
Non-GAAP
|
|
|
|
|
|
|
|
Actual
|
|
Adjustments
|
|
Results
|
|
Actual
|
|
Adjustments
|
|
Results
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To exclude
stock-based compensation
|
|
|
$
7,741
|
|
|
|
|
|
$
5,876
|
|
|
|
|
|
|
|
|
To exclude
amortization of intangible
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
assets
resulting from business acquisitions
|
|
|
3,209
|
|
|
|
|
|
2,344
|
|
|
|
|
|
|
|
|
To exclude gain on disposal
and impairment on investments
|
|
|
(1,470)
|
|
|
|
|
|
(4,752)
|
|
|
|
|
|
|
|
|
To exclude (gain)
loss resulting from the fair value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
changes in
investments
|
|
|
(2,189)
|
|
|
|
|
|
1,163
|
|
|
|
|
|
|
|
|
To exclude tax
impacts related
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
to
amortization of intangible assets
|
|
|
(821)
|
|
|
|
|
|
(483)
|
|
|
|
|
|
|
|
|
Earning (Loss)
from equity method investments, net
|
$
(11,015)
|
|
$
6,470
|
|
$
(4,545)
|
|
$
1,402
|
|
$
4,148
|
|
$
5,550
|
|
|
|
|
|
|
Share of
amortization of equity investments'
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
intangibles
not on their books
|
(954)
|
|
954
|
|
-
|
|
(1,579)
|
|
1,579
|
|
-
|
|
|
|
|
|
|
Share of tax
impacts related to amortization of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
equity
investments' intangibles not on their books
|
203
|
|
(203)
|
|
-
|
|
395
|
|
(395)
|
|
-
|
|
|
|
|
|
|
|
$
(11,766)
|
|
$
7,221
|
|
$
(4,545)
|
|
$
218
|
|
$
5,332
|
|
$
5,550
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Earning (Loss)
from equity method investments is recorded one quarter in
arrears.
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sina-reports-fourth-quarter-and-fiscal-year-2016-financial-results-300411913.html
SOURCE SINA Corporation