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Sina Reports Non-Advertising Revenue Growth

Sina.com grew net revenues this last quarter by 128.5% year-over-year to a record $41.4 million. Non-advertising revenues for the quarter grew by 161.4% year-over-year and accounted for 68.3% of total revenues. The company made the announcement yesterday for the first quarter ending March 31, 2004.

The company prides itself on having a stable of dedicated advertising clients also saw ad revenues for the quarter grow by 79.8% year-over-year to $13.1 million and accounted for 31.7% of total revenues.

US GAAP net income for the quarter was $16.0 million; or $0.28 diluted net income per share, compared to a net income of $3.4 million, or $0.07 diluted net income per share for the same period in 2003. And pro forma net income for the quarter was $16.6 million, or $0.29 diluted net income per share, compared to a pro forma net income of $4.1 million, or $0.08 diluted net income per share for the same period in 2003.

Cash flow from operating activities increased for the quarter. This first quarter of 2004 saw cash flow at $19.7 million, compared to $3.8 million for the same period in 2003.

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