虹口区| 宜兰县| 彝良县| 亳州市| 绥化市| 正阳县| 遵义市| 高碑店市| 武城县| 平南县| 安乡县| 盐津县| 九寨沟县| 邵阳县| 封丘县| 余江县| 忻城县| 汉川市| 霞浦县| 杭锦旗| 富民县| 滨州市| 临泽县| 日照市| 遵化市| 广德县| 水富县| 石河子市| 沾化县| 孝昌县| 孟州市| 溆浦县| 吴川市| 思茅市| 湄潭县| 钟山县| 新化县| 邯郸县| 大化| 峨眉山市| 滨州市| 宁武县| 衡南县| 贺兰县| 九龙坡区| 郸城县| 河北区| 乐业县| 北辰区| 聊城市| 桑日县| 搜索| 伊吾县| 古交市| 东乌珠穆沁旗| 湖北省| 金华市| 和静县| 泸西县| 宁远县| 浙江省| 扎兰屯市| 托里县| 福建省| 宕昌县| 惠水县| 怀宁县| 宜宾县| 高淳县| 河池市| 松潘县| 西和县| 鸡西市| 项城市| 汶上县| 定南县| 成武县| 龙山县| 哈密市| 天水市| 六安市| 玉田县| 南涧| 常宁市| 诸暨市| 东丽区| 广东省| 镇赉县| 鄂温| 基隆市| 封丘县| 涟水县| 丁青县| 长岭县| 广安市| 弥勒县| 台北市| 阜新市| 阿瓦提县| 巴彦淖尔市| 莱阳市| 吉水县| 长垣县| 武山县| 温泉县| 博罗县| 澜沧| 古丈县| 酉阳| 祁门县| 铁力市| 云南省| 桐梓县| 康保县| 民县| 白水县| 阳曲县| 建平县| 靖宇县| 竹北市| 临夏市| 碌曲县| 阿勒泰市| 丰原市| 江油市| 汝州市| 穆棱市| 蓝田县| 兴国县| 清新县| 叙永县| 焦作市| 额济纳旗| 三亚市| 赤壁市| 天祝| 班戈县| 喀什市| 黎城县| 浮梁县| 富源县| 民勤县| 当雄县| 阿拉尔市| 彭山县| 兴隆县| 佛学| 北海市| 咸宁市| 库伦旗| 西昌市| 镇江市| 融水| 惠州市| 洪洞县| 京山县| 辛集市| 安顺市| 阳原县| 太仓市| 石门县| 栾川县| 合江县| 五常市| 溧阳市| 收藏| 渭南市| 武隆县| 潮州市| 金门县| 上栗县| 嘉义市| 黎川县| 任丘市| 莱芜市| 淳化县| 安丘市| 霍州市| 宜都市| 马公市| 鹤岗市| 双牌县| 昭觉县| 安岳县| 蓝田县| 泽库县| 友谊县| 蕲春县| 鱼台县| 蓝山县| 钟祥市| 舞钢市| 嘉荫县| 曲麻莱县| 鹤峰县| 朝阳区| 资阳市| 鄂托克前旗| 大港区| 镇安县| 原阳县| 民勤县| 新建县| 黄冈市| 旬邑县| 和硕县| 乌拉特前旗| 长沙县| 常德市| 兰州市| 万山特区| 毕节市| 高邮市| 客服| 宾阳县| 舟山市| 虹口区| 麟游县| 合川市| 广饶县| 新平| 梁平县| 北辰区| 镇平县| 安塞县| 哈密市| 中西区| 东港市| 弥渡县| 浑源县| 耿马| 卓资县| 富蕴县| 吴旗县| 毕节市| 贡山| 达尔| 万载县| 永年县| 镇安县| 乐昌市| 兴化市| 阳谷县| 库车县| 连城县| 道孚县| 南平市| 云南省| 右玉县| 崇仁县| 南澳县| 临猗县| 玉环县| 新泰市| 凤台县| 介休市|

英国预算报告、央行超级周四 脱欧大戏才是至关重要

2018-12-10 19:00 来源:现代生活

  英国预算报告、央行超级周四 脱欧大戏才是至关重要

  陶师傅休息的时候,喜欢坐在自己的作品前品茶。  安倍去年说,若他和妻子与地价门国有土地遭贱卖一事相关,将辞去首相及国会议员职务。

  渡河之后,白起下令烧掉船只,以示必死。  科技部:着眼新市场需求加大创新力度  5G通信、人工智能、物联网、区块链……不断涌现的新技术正在中国大地催生商业模式的变革。

    下一步重点要放宽服务业的准入,比如说在养老、医疗、教育、金融等领域,我们会加大放宽准入力度。任何国家都不应低估中国经济日益强大的适应能力、抗打击能力和反制能力。

  截至目前,仍有9名船员失踪。  这是淡泊名利、甘于奉献的崇高境界。

  以“高精尖缺”为导向,让高技能领军人才更有获得感。

  是以军中皆无退意,号称一心同功,死不旋踵70多年后,这一招被楚国后裔项羽在巨鹿学了去,破釜沉舟之下击破秦朝最后一支有生力量,真可谓是天道好轮回。

  习近平主席、李克强总理等国家领导人多次与有关国家元首和政府首脑进行会晤,深入阐释"一带一路"的深刻内涵和积极意义,就共建"一带一路"达成广泛共识。相亲活动形式丰富多样,可以品尝美食,可以健身跑步出海旅行,还可以一起去做手工,开party,而且参加活动的费用,政府承担一半。

    中方星期五只公布了针对美国钢铝关税的反制计划,涉及美方30亿美元产品。

    解决这个问题,很难毕其功于一役。这30亿与中国钢铝出口将遭受的损失相当。

  肯尼亚总统乌胡鲁·肯雅塔在视察蒙内铁路建设时说,蒙内铁路将带领肯尼亚开启工业化进程,实现经济转型。

    其次,监察委员会可以对所有行使公权力的公职人员,比如国有企业管理人员、公办单位管理人员等依法进行监督、调查和处置。

    生态环境部:打赢蓝天保卫战是重中之重  面对百姓对更美好生态环境的期盼,中国如何继续发力打赢污染防治攻坚战?  “坚决打赢蓝天保卫战,是打好污染防治攻坚战的重中之重。此前还有3个世界气象中心,分别位于美国华盛顿、俄罗斯莫斯科和澳大利亚墨尔本。

  

  英国预算报告、央行超级周四 脱欧大戏才是至关重要

 
责编:神话

英国预算报告、央行超级周四 脱欧大戏才是至关重要

News Release

View printer-friendly version
<< Back

SINA Reports First Quarter 2018 Unaudited Financial Results

  “对辽宁来说,全省工业增加值的三分之二来自与材料关系密切的装备制造、冶金、化工三大行业。

BEIJING, May 9, 2018 /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 first quarter ended March 31, 2018.

"We had a good start to the year 2018." said Charles Chao, Chairman and CEO of SINA. "Weibo delivered robust growth of revenues and profit on the back of greater user scale, stronger platform effect and improved monetization efficiency. Weibo continue to benefit from ad budget shift toward social, mobile and video features which the platform combines." said Mr. Chao. "SINA portal business demonstrated its recovery trend with progress achieved in mobile monetization of SINA media properties." Mr. Chao added.

Adoption of New Revenue Guidance

On January 1, 2018, the Company adopted new revenue guidance ASC Topic 606, "Revenue from Contracts with Customers", using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606 ('New Basis'), while prior period amounts are not adjusted and continue to be reported in accordance with the Company's historic accounting method under Topic 605 ('Old Basis'). The New Basis requires the presentation of value added tax ('VAT') recognized in revenues from "gross" to "net", which results in equal decrease in revenues and cost of revenues, and recognition of revenues and expenses at fair value for advertising barter transactions ('Barter Transaction').

The Company recorded a net reduction to opening retained earnings of $0.3 million resulting from Barter Transaction as of January?1, 2018 due to the cumulative impact of adopting ASC 606.

Adoption of the standards related to revenue recognition which impacted the Company's current period reported results are as follows:


Three months ended March 31, 2018


Adjustments


Old Basis

ASC 605 1

?VAT


Barter
Transaction


New Basis
ASC 606 2?


($ In thousands, except for percentage)

Net revenues

456,101


(25,161)


9,812


440,752

? - Portal

96,091


(5,267)


82


90,906

? - Weibo

360,047


(19,894)


9,730


349,883

Cost of revenues

133,868


(25,161)


-


108,707

Operating expenses

246,006


-


12,750


258,756

?? - Sales and marketing

126,937


-


12,750


139,687

Income from operations

76,227


-


(2,938)


73,289

Gross margin

70.6%






75.3%

Operating margin

16.7%






16.6%









Note 1. This financial information for the three months ended March 31, 2018 is presented under ASC Topic 605.

Note 2. This financial information for the three months ended March 31, 2018 is presented under ASC Topic 606.

First Quarter 2018 Highlights

  • Both net revenues and non-GAAP net revenues increased 59% year-over-year to $440.8 million and $438.1 million, respectively.
  • Advertising revenues increased 61% year-over-year to $367.1 million.
  • Non-advertising revenues increased 47% year-over-year to $73.7 million. Non-GAAP non-advertising revenues increased 50% year-over-year to $71.1 million.
  • Income from operations increased 63% year-over-year to $73.3 million. Non-GAAP income from operations increased 49% year-over-year to $94.6 million.
  • Net income attributable to SINA was $28.7 million, or $0.38 for diluted net income per share attributable to SINA's ordinary shareholders. Non-GAAP net income attributable to SINA was $35.2 million, or $0.47 for non-GAAP diluted net income per share attributable to SINA's ordinary shareholders.

First Quarter 2018 Financial Results

For the first quarter of 2018, SINA reported net revenues of $440.8 million, an increase of 59% compared to $278.1 million for the same period last year. Non-GAAP net revenues for the first quarter of 2018 were $438.1 million, an increase of 59% compared to $275.5 million for the same period last year.

Advertising revenues for the first quarter of 2018 were $367.1 million, an increase of 61% compared to $228.0 million for the same period last year. The year-over-year growth in advertising revenues was mainly resulted from an increase of $133.7 million, or 79% growth in Weibo advertising and marketing revenues.

Non-advertising revenues for the first quarter of 2018 were $73.7 million, an increase of 47% compared to $50.1 million for the same period last year. Non-GAAP non-advertising revenues for the first quarter of 2018 were $71.1 million, an increase of 50% compared to $47.5 million for the same period last year. The year-over-year growth in non-advertising revenues was mainly driven by the increase of revenues from Weibo gaming and membership service, and revenues derived from SINA fin-tech businesses.

Gross margin for the first quarter of 2018 was 75%, compared to 69% for the same period last year. Advertising gross margin for the first quarter of 2018 was 77%, compared to 70% for the same period last year. Non-advertising gross margin for the first quarter of 2018 was 65%, compared to 62% for the same period last year. The increases in both advertising and non-advertising gross margin were a direct result of the adoption of ASC 606.

Operating expenses for the first quarter of 2018 totaled $258.8 million, compared to $146.5 million for the same period last year. Other than the inclusion of marketing expense related to Barter Transactions under ASC Topic 606 as illustrated above, the increase in operating expenses was primarily due to the increase in sales and marketing expenses incurred for marketing campaigns and step-up of user acquisition costs for Weibo and SINA News application, as well as the increase in product and development expenses in relations to personnel-related costs. Non-GAAP operating expenses for the first quarter of 2018 totaled $237.3 million, compared to $127.4 million for the same period last year.

Income from operations for the first quarter of 2018 was $73.3 million, an increase of 63% compared to $45.0 million for the same period last year. Operating margin was 17%, up from 16% for the same period last year. Non-GAAP income from operations for the first quarter of 2018 was $94.6 million, an increase of 49% compared to $63.7 million for the same period last year. Non-GAAP operating margin was 22%, slightly down from 23% for the same period last year.

Non-operating income for the first quarter of 2018 was $22.6 million, compared to a non-operating income of $30.3 million for the same period last year. Non-operating income for the first quarter of 2018 included (i) a $17.1 million net interest and other income; (ii) a $7.2 million net gain on sale of investments, fair value changes and impairment on investments, which is excluded under non-GAAP measure; and (iii) a $1.8 million loss pick-up from equity-method investments, which is reported one quarter in arrears and is mainly resulted from the loss pick-up related to the Company's investment in Leju Holding Limited ("Leju"). Non-operating income for the first quarter of 2017 included (i) a $15.9 million net gain on sale of and impairment on investments, which is excluded under non-GAAP measure; (ii) a $5.0 million of dividend income from certain investments and an interest income of $6.2 million; and (iii) a $3.1 million earnings pick-up from equity-method investments, which are accounted for under the equity-method and reported one quarter in arrears, and mainly resulted from earnings pick-up from the Company's investment in Tian Ge Interactive Holdings Limited.???

Income tax expenses for the first quarter of 2018 were $18.8 million, compared to $13.8 million for the same period last year. The increase was primarily attributable to higher profitability with a relatively stable tax rates in our PRC operation.

Net income attributable to SINA's ordinary shareholders for the first quarter of 2018 was $28.7 million, compared to $38.5 million for the same period last year. Diluted net income per share attributable to SINA's ordinary shareholders for the first quarter of 2018 was $0.38, compared to $0.52 for the same period last year. Non-GAAP net income attributable to SINA's ordinary shareholders for the first quarter of 2018 was $35.2 million, compared to $37.6 million for the same period last year. Non-GAAP diluted net income per share attributable to SINA's ordinary shareholders for the first quarter of 2018 was $0.47, compared to $0.50 for the same period last year.

As of March 31, 2018, SINA's cash, cash equivalents and short-term investments totaled $3.4 billion, at similar level compared to the cash balance as of December 31, 2017. For the first quarter of 2018, net cash provided by operating activities was $54.9 million, capital expenditures totaled $36.2 million, and depreciation and amortization expenses amounted to $9.5 million.

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 from operations, non-GAAP operating margin, non-GAAP net income attributable to SINA's ordinary shareholders and non-GAAP diluted net income per share attributable to SINA's ordinary shareholders. 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 related to the license granted to Leju, 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, deemed disposal, fair value changes and impairment on investment, and income tax effects of above non-GAAP to GAAP reconciling items and adjustment for non-GAAP to GAAP reconciling items for the income attributable to non-controlling interests and amortization of convertible debt issuance cost. 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 8:10 a.m.8:40 a.m. Eastern Time on May 9, 2018 (or 8:10 p.m.8:40 p.m. Beijing Time on May 9, 2018) 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://ir-sina-com.badongtc.com. 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: 4788917


A replay of the conference call will be available through morning Eastern Time May 17, 2018. The dial-in number is +61 2 9003 4211. The passcode for the replay is 4788917.

About SINA

SINA is a leading online media company serving China and the global Chinese communities. Its digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile apps) and Weibo (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 mobile provides news information, professional and entertainment content customized for mobile users through mobile applications and mobile portal site SINA.cn.

Weibo is a leading social media platform for people to create, distribute and discover content. Based on an open platform architecture, Weibo provides unprecedented and simple way for people and organizations to publicly express themselves in real time, interact with others on a massive global platform and stay connected with the world.

Through these properties and other product lines, SINA 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 fin-tech 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 2017 annual reports on Form 20-F and other filings with the Securities and Exchange Commission.

Contact:

Investor Relations
SINA Corporation
Phone: +86 10 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




March 31,


December 31,




2018


2017


2017


Net revenues(1):







??? Advertising

$ ? ? ? ? ? ? ? ? ? 367,081


$ ? ? ? ? ? ? ? ? ? 227,999


$ ? ? ? ? ? ? ? ? ? 424,756


??? Non-advertising

73,671


50,066


78,982




440,752


278,065


503,738


Cost of revenues(1)(2):







??? Advertising??

83,115


67,668


99,858


??? Non-advertising

25,592


18,904


26,812




108,707


86,572


126,670


Gross profit

332,045


191,493


377,068










Operating expenses:







??? Sales and marketing (1)(2)

139,687


68,083


143,020


??? Product development (2)

85,137


54,420


78,977


??? General and administrative (2)

33,932


24,023


26,421




258,756


146,526


248,418


Income from operations

73,289


44,967


128,650










Non-operating income:







?? Earning (Loss) from equity method investments, net

(1,772)


3,143


(2,843)


?? Gain on sale of investments, fair value changes and
???? impairment?on investments, net (3)

7,226


15,883


(740)


?? Interest and other income, net

17,098


11,233


11,244




22,552


30,259


7,661










Income before income taxes

95,841


75,226


136,311


Income tax expense

(18,750)


(13,826)


(17,160)










Net income

77,091


61,400


119,151


?? Less: Net income attributable to non-controlling interests

48,397


22,876


73,787










Net income attributable to SINA's ordinary shareholders

$ ? ? ? ? ? ? ? ? ? ? 28,694


$ ? ? ? ? ? ? ? ? ? ? 38,524


$ ? ? ? ? ? ? ? ? ? ? 45,364


















Basic net income per share

$ ? ? ? ? ? ? ? ? ? ? ? ? 0.40


$ ? ? ? ? ? ? ? ? ? ? ? ? 0.54


$ ? ? ? ? ? ? ? ? ? ? ? ? 0.63


Diluted net income per share (4)

$ ? ? ? ? ? ? ? ? ? ? ? ? 0.38


$ ? ? ? ? ? ? ? ? ? ? ? ? 0.52


$ ? ? ? ? ? ? ? ? ? ? ? ? 0.60










Shares used in computing basic net income per share

71,440


70,959


71,516










Shares used in computing diluted net income per share

74,036


73,409


74,213


















(1) ?On January 1, 2018, the Company adopted ASC 606 Revenue from Contracts with Customers using the modified retrospective method,which means
that prior periods amount will be reported on a historical basis and amounts for 2018 are reported on the new basis. Under the new accounting standard,
the main impact to the Company is that it now reports revenue net of value added tax and recognizes revenues and expenses at fair value for advertising
barter transactions.










(2) ?Stock-based compensation in each category:








Cost of revenues

$ ? ? ? ? ? ? ? ? ? ? ? 2,541


$ ? ? ? ? ? ? ? ? ? ? ? 2,230


$ ? ? ? ? ? ? ? ? ? ? ? 2,145



Sales and marketing

4,880


4,583


5,370



Product development

7,487


6,990


6,432



General and administrative

7,408


7,387


8,237










(3) ?The Company adopted ASU 2016-1, Classification and Measurement of Financial Instrumentsbeginning the first quarter of fiscal year 2018. After
the adoption of this new accounting update, the Company will measure long-term investments other than equity method investments at fair value through
earnings.? For those investments without readily determinable fair values, the Company will elect to record these investments at cost, less impairment, and
plus or minus subsequent adjustments for observable price changes. Changes in the basis of these investments will be reported in current earnings.?










(4)? Net income attributable to SINA's ordinary shareholders 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)













March 31,



December 31,





2018



2017



Assets



Current assets:








Cash and cash equivalents


$ ? ? ? ? ? ? ? ?1,186,509



$ ? ? ? ? ? ? ? 1,990,552



Short-term investments


2,251,930



1,381,991



Restricted cash


197,819



216,151



Accounts receivable, net


321,864



285,681



Prepaid expenses and other current assets


240,915



228,238



????? Subtotal


4,199,037



4,102,613










Property and equipment, net


273,460



262,676


Goodwill and intangible assets, net


105,426



104,207


Long-term investments (1)


1,370,652



1,288,816


Other assets


70,892



57,082


Total assets


$ ? ? ? ? ? ? ? ?6,019,467



$ ? ? ? ? ? ? ? 5,815,394











Liabilities and Shareholders' Equity



Current liabilities:








Accounts payable


$ ? ? ? ? ? ? ? ? ? 153,884



$ ? ? ? ? ? ? ? ? ?130,431



Amount due to customers


197,819



216,151



Accrued expenses and other current liabilities


438,358



446,779



Short-term bank loan


93,382



89,309



Convertible debt?


153,085



153,092



Deferred revenues


151,857



134,580



Income taxes payable


123,727



102,458



???? Subtotal


1,312,112



1,272,800










Convertible debt


881,018



879,983


Long-term deferred revenues


51,668



54,372


Other long-term liabilities


8,811



8,510



???? Total liabilities


2,253,609



2,215,665










Shareholders' equity








SINA shareholders' equity (1)?


2,937,920



2,846,842



Non-controlling interests


827,938



752,887



???? Total shareholders' equity?


3,765,858



3,599,729










Total liabilities and shareholders' equity


$ ? ? ? ? ? ? ? ?6,019,467



$ ? ? ? ? ? ? ? 5,815,394










(1)The Company adopted ASU 2016-1, Classification and Measurement of Financial Instruments beginning the first quarter of
fiscal year 2018. After the adoption of this new accounting update, the Company will measure long-term investments other than
equity method investments at fair value through earnings.? For those investments without readily determinable fair values, the
Company will elect to record these investments at cost, less impairment, and plus or minus subsequent adjustments for observable
price changes. Changes in the basis of these investments will be reported in current earnings. The cumulative impact arising from
the adoption was a credit to retained earnings as of January 1, 2018 of $49.0 million.

?

SINA CORPORATION

UNAUDITED ADDITIONAL INFORMATION

(U.S. Dollars in thousands)











Three months ended




March 31,


December 31,




2018


2017


2017










Net revenues







Portal:







Portal Advertising

$ ? ? ? ? ? ? ? ? ?64,132


$ ? ? ? ? ? ? ? ? ?59,791


$ ? ? ? ? ? ? ? ? ?95,319


Other

26,774


20,162


33,842


Subtotal


90,906


79,953


129,161










Weibo:







Advertising and marketing

302,949


169,297


332,305


Weibo VAS

46,934


29,904


45,140


?????Subtotal


349,883


199,201


377,445










Elimination

(37)


(1,089)


(2,868)




$ ? ? ? ? ? ? ? ?440,752


$ ? ? ? ? ? ? ? ?278,065


$ ? ? ? ? ? ? ? ?503,738










Cost of revenues







Portal:







Portal Advertising

$ ? ? ? ? ? ? ? ? ?29,373


$ ? ? ? ? ? ? ? ? ?27,482


$ ? ? ? ? ? ? ? ? ?35,647


Other

16,469


12,702


19,180


Subtotal


45,842


40,184


54,827










Weibo

62,902


46,450


72,005










Elimination

(37)


(62)


(162)




$ ? ? ? ? ? ? ? ?108,707


$ ? ? ? ? ? ? ? ? ?86,572


$ ? ? ? ? ? ? ? ?126,670










Gross margin







?????Portal


50%


50%


58%


?????Weibo


82%


77%


81%




75%


69%


75%










?

SINA CORPORATION

UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS

(U.S. Dollars in thousands, except per share data)









































Three months ended



March 31, 2018


March 31, 2017


December 31, 2017







Non-GAAP






Non-GAAP






Non-GAAP



Actual


Adjustments


Results


Actual


Adjustments


Results


Actual


Adjustments


Results




















Advertising revenues

$ ? ? 367,081




$ ? ? 367,081


$ ? ? ?227,999




$ ? ? 227,999


$ ? ? 424,756




$ ? ? 424,756

Non-advertising revenues

73,671


(2,609)

?(a)?

71,062


50,066


(2,609)

?(a)?

47,457


78,982


(2,609)

?(a)?

76,373

Net revenues

$ ? ? 440,752


$ ? ? ? ? ? ? ?(2,609)


$ ? ? 438,143


$ ? ? ?278,065


$ ? ? ? ? ? ? ?(2,609)


$ ? ? 275,456


$ ? ? 503,738


$ ? ? ? ? ? ? ?(2,609)


$ ? ? 501,129
























(2,609)

?(a)?





(2,609)

?(a)?





(2,609)

?(a)?






2,541

?(b)?





2,230

?(b)?





2,145

?(b)?


Gross profit

$ ? ? 332,045


$ ? ? ? ? ? ? ? ? ? (68)


$ ? ? 331,977


$ ? ? ?191,493


$ ? ? ? ? ? ? ? ? (379)


$ ? ? 191,114


$ ? ? 377,068


$ ? ? ? ? ? ? ? ? (464)


$ ? ? 376,604
























(19,775)

?(b)?





(18,960)

?(b)?





(20,039)

?(b)?






(1,635)

?(c)?





(155)

?(c)?





(1,535)

?(c)?


Operating expenses

$ ? ? 258,756


$ ? ? ? ? ? ?(21,410)


$ ? ? 237,346


$ ? ? ?146,526


$ ? ? ? ? ? ?(19,115)


$ ? ? 127,411


$ ? ? 248,418


$ ? ? ? ? ? ?(21,574)


$ ? ? 226,844
























(2,609)

?(a)?





(2,609)

?(a)?





(2,609)

?(a)?






22,316

?(b)?





21,190

?(b)?





22,184

?(b)?






1,635

?(c)?





155

?(c)?





1,535

?(c)?


Income from operations

$ ? ? ? 73,289


$ ? ? ? ? ? ? 21,342


$ ? ? ? 94,631


$ ? ? ? ?44,967


$ ? ? ? ? ? ? 18,736


$ ? ? ? 63,703


$ ? ? 128,650


$ ? ? ? ? ? ? 21,110


$ ? ? 149,760
























(2,609)

?(a)?











(2,609)

?(a)?






22,316

?(b)?





(2,609)

?(a)?





22,184

?(b)?






1,635

?(c)?





21,190

?(b)?





1,535

?(c)?






(451)

?(d)?





155

?(c)?





1,503

?(d)?






(7,226)

?(e)?





224

?(d)?





740

(e)






(8,183)

(f)





(15,883)

?(e)?





(9,197)

?(f)?






1,035

?(g)?





(5,494)

?(f)?





690

?(g)?






21

?(h)?





1,472

?(h)?





(253)

?(h)?


Net income attributable to SINA's ordinary shareholders

$ ? ? ? 28,694


$ ? ? ? ? ? ? ? 6,538


$ ? ? ? 35,232


$ ? ? ? ?38,524


$ ? ? ? ? ? ? ? ? (945)


$ ? ? ? 37,579


$ ? ? ? 45,364


$ ? ? ? ? ? ? 14,593


$ ? ? ? 59,957







































Diluted net income per share *

$ ? ? ? ? ? 0.38




$ ? ? ? ? ? 0.47


$ ? ? ? ? ? ?0.52




$ ? ? ? ? ? 0.50


$ ? ? ? ? ? 0.60




$ ? ? ? ? ? 0.79




















Shares used in computing diluted net income? per share

74,036


-


74,036


73,409


-


73,409


74,213


-


74,213







































Gross margin - advertising

77%


1%


78%


70%


1%


71%


76%


1%


77%

Gross margin - non-advertising

65%


-1%


64%


62%


-2%


60%


66%


-1%


65%

Operating margin

17%


5%


22%


16%


7%


23%


26%


4%


30%




















(a)? To exclude the recognition of deferred revenue related to the license granted to Leju.










(b)? To exclude stock-based compensation.











(c)? To adjust amortization of intangible assets.









(d)? 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.









(e)? To exclude (gain) loss on sale of investments, (gain) loss on deemed disposal, fair value changes and impairment on investments, net.












(f)? To exclude Non-GAAP to GAAP reconciling items for the income attributable to non-controlling interests.















(g)? To exclude the amortization of convertible debt issuance cost.


















(h)? To exclude the provision (benefit) for income tax related to item (c) and (e). Other non-GAAP to GAAP reconciling items have no income tax effect.**





























*?

Net income attributable to SINA's ordinary shareholders 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, valuation allowances were
made for those differences 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



March 31, 2018


March 31, 2017


December 31, 2017



Actual


Adjustments


Non-GAAP Results


Actual


Adjustments


Non-GAAP Results


Actual


Adjustments


Non-GAAP Results





















To exclude stock-based compensation



$ ? ? ? ? ? ? ? ? ?584






$ ? ? ? ? ? ? ? ? ?320






$ ? ? ? ? ? ? ? ? ?881




To exclude amortization of intangible?



















? assets resulting from business acquisitions



1,123






102






1,177




To?exclude?(gain) loss?on?disposal and impairment on investments, net



1,669






(321)






848




To exclude (gain) loss resulting from the fair value?



















? changes in investments, net



(3,339)






39






(1,426)




To exclude tax impacts related?



















? to amortization of intangible assets



(178)






(21)






(178)




Earning (Loss) from equity method investments, net

$ ? ? ? (2,082)


$ ? ? ? ? ? ? ? ? (141)


$ ? ? ? (2,223)


$ ? ? ? ? ?3,248


$ ? ? ? ? ? ? ? ? ?119


$ ? ? ? ? 3,367


$ ? ? ? (2,642)


$ ? ? ? ? ? ? ? 1,302


$ ? ? ? (1,340)


Share of amortization of equity investments'?



















? intangibles not on their books

224


(224)


-


(125)


125


-


(253)


253


-


Share of tax impacts related to amortization of?



















? equity investments' intangibles not on their books

86


(86)


-


20


(20)


-


52


(52)


-



$ ? ? ? (1,772)


$ ? ? ? ? ? ? ? ? (451)


$ ? ? ? (2,223)


$ ? ? ? ? ?3,143


$ ? ? ? ? ? ? ? ? ?224


$ ? ? ? ? 3,367


$ ? ? ? (2,843)


$ ? ? ? ? ? ? ? 1,503


$ ? ? ? (1,340)








































* Earning (Loss) from equity method investments is recorded one quarter in arrears.

















Cision View original content:http://www.prnewswire.com.badongtc.com/news-releases/sina-reports-first-quarter-2018-unaudited-financial-results-300645252.html

SOURCE SINA Corporation

库车县 昂仁县 桐城市 科尔沁右翼前旗 桂阳县
南江 理塘 德化县 临潭 拜泉