Chinese Internet company Sina recently published its unaudited financial report for the first quarter of 2019, stating that the company's net operating revenue was USD475.1 million, a year-on-year increase of 8%; and its net profit was USD33.1 million while the figure was USD28.7 million in the same period of last year.
If based on non-US GAAP, the company's net profit was USD28.9 million while the figure was USD35.2 million in the same period of last year.
According to the report, Sina's advertising operating revenue was USD388 million during the reporting period, a year-on-year increase of 6%. The revenue increase was mainly contributed by Weibo advertisements and marketing revenue increase.
Meanwhile, Sina's non-advertising operating revenue was USD87.1 million, a year-on-year increase of 18%. The revenue increase was contributed by the live broadcast business acquired by Weibo in the fourth quarter of 2018 and Sina's fintech business.
In addition, Weibo's operating expense in the first quarter of 2019 was USD272.2 million and it was USD258.8 million in the same period of last year; while its operating profit was USD86.9 million and it was USD73.3 million in the same period of last year.
By March 31, 2019, Sina's total cash, cash equivalents, and short-term investments were USD2.1 billion.
