岢岚县| 肃北| 芦溪县| 廊坊市| 铅山县| 安平县| 修文县| 手游| 哈尔滨市| 堆龙德庆县| 连城县| 同心县| 临潭县| 徐州市| 稷山县| 阿克苏市| 乃东县| 辽宁省| 会泽县| 炉霍县| 衡山县| 扎赉特旗| 沙雅县| 永清县| 新干县| 洛隆县| 勐海县| 永丰县| 大渡口区| 老河口市| 濮阳县| 库伦旗| 南平市| 砀山县| 绿春县| 龙门县| 罗田县| 绿春县| 濉溪县| 颍上县| 富阳市| 太康县| 晋州市| 阿瓦提县| 商城县| 汝阳县| 大方县| 汝阳县| 筠连县| 淄博市| 忻州市| 浦江县| 松溪县| 安陆市| 商丘市| 增城市| 鄂州市| 武平县| 玉门市| 会泽县| 泗水县| 将乐县| 长兴县| 若尔盖县| 鹤岗市| 凤庆县| 筠连县| 玉屏| 闵行区| 北流市| 甘南县| 巩义市| 宣恩县| 柞水县| 莱阳市| 远安县| 济阳县| 太湖县| 安吉县| 新余市| 大同县| 镇安县| 景德镇市| 郎溪县| 武安市| 白朗县| 寿光市| 来安县| 安多县| 邢台县| 民县| 噶尔县| 崇礼县| 抚州市| 开封县| 南康市| 章丘市| 三台县| 锦屏县| 松原市| 武邑县| 阿坝| 天峨县| 汤阴县| 石门县| 太康县| 和龙市| 华池县| 龙游县| 洞头县| 峨边| 响水县| 湘潭县| 武威市| 夏津县| 西宁市| 合水县| 元江| 绥棱县| 石首市| 广元市| 正蓝旗| 报价| 楚雄市| 梁平县| 古丈县| 宁津县| 建水县| 界首市| 英吉沙县| 金坛市| 江油市| 中阳县| 华坪县| 隆林| 饶河县| 柳江县| 手游| 囊谦县| 桓仁| 邢台县| 时尚| 光泽县| 建湖县| 安乡县| 龙井市| 咸丰县| 吴旗县| 牟定县| 南召县| 怀化市| 神池县| 桂林市| 缙云县| 白银市| 芦山县| 松桃| 武义县| 义马市| 武宣县| 洱源县| 临泽县| 武乡县| 德化县| 兖州市| 宽甸| 弋阳县| 马山县| 朝阳市| 临江市| 土默特右旗| 九江县| 双辽市| 都安| 宜兴市| 翼城县| 南漳县| 赤城县| 务川| 嵊州市| 尤溪县| 甘谷县| 兖州市| 正宁县| 九江县| 扶绥县| 保定市| 额尔古纳市| 廉江市| 长顺县| 寿光市| 微山县| 万荣县| 漠河县| 靖远县| 黄梅县| 双流县| 闻喜县| 肇庆市| 乌兰察布市| 屏南县| 射洪县| 洮南市| 灵山县| 霍州市| 安龙县| 屯门区| 岗巴县| 青铜峡市| 洪洞县| 常山县| 黔南| 那坡县| 新化县| 沭阳县| 东城区| 成安县| 八宿县| 大埔区| 当阳市| 盱眙县| 靖远县| 汉川市| 扶风县| 乌拉特中旗| 洛南县| 常州市| 许昌市| 搜索| 邢台县| 静海县| 鄂伦春自治旗| 河源市| 大冶市| 桐庐县| 大同市| 大悟县| 汪清县| 临漳县| 康定县| 石首市| 金华市| 金秀| 施甸县| 安国市| 六安市| 崇州市| 平定县| 清流县| 无棣县| 神农架林区| 临沂市| 永宁县| 无极县| 莎车县| 盐亭县|

外盘头条:欧盟称意大利预算草案的偏差“前所未有”

2018-12-10 18:58 来源:甘肃新闻网

  外盘头条:欧盟称意大利预算草案的偏差“前所未有”

  这款发动机其实已经并不陌生了,最大功率150马力,最大扭矩210牛米,不说动力过剩,至少应付城里的交通是不成问题的。美国高速公路管理局,国家安全署等机构已前往调查此事件,同时UBER已停止自动驾驶所有实验。

)从这个角度看,如果还认为此次贸易战与汽车产业关系不大,就大错了。可能用料上不是足够优秀,但是做工细节都把控的不错。

  小结:2018款轩逸在保留原有外观与内饰的基础上,着重对配置进行了升级,价格保持一致。二、AEB自动紧急制动系统测试不难看出,6个辅助驾驶功能中最具挑战性的即为这套AEB紧急制动系统,其对安全的影响也是最大的。

  中国一汽还表示,未来也将在新能源领域持续发力,通过前瞻性的思考、多的跨界合作和领先的技术,有效减少能源浪费,在不断为用户打造更加高效、舒适、环保的用车体验的同时,推动中国新能源汽车产业发展。从2016年的宝格丽罗马电影艺术展到2017年的巴塞尔表展、宝格丽FESTA欢筵享宴活动,吸睛无数。

這部獲獎的汽車是同級車款中燃油效率最佳的其中一款,具四門和五門兩種車型,可搭配升或升引擎,並皆可選配六速手排或自排變速系統。

  瑞虎3xe搭载了永磁同步电机与三元锂电池组成的动力系统,最大功率90kW,峰值扭矩276Nm,最高车速为151km/h。

  车尾线条更加凌厉,同时后尾灯灯组造型更加修长。刘诗诗2017年10月,欧米茄荣耀宣布刘诗诗加入欧米茄名人大使大家庭。

  我们知道这是一台同级别性能领先的车型,但正因如此,它才更需要能及时的停下来。

  2、前车低速场景:前车20公里/小时低速行驶,名爵6以50公里/小时的时速接近,并保持50%偏置以增大系统识别难度。在2013年,那时候我已在某汽车媒体从业了一年,早就知道9代车型要来了,虽然极度讨厌国产后的大板牙前脸,但那时候大肆宣传的EARTHDREAM地球梦发动机,让我对它的期待不减;虽然当时的媒体试驾会我没去,但那时的新车实拍和本地评测我都有参与,对它的了解也很深刻;它自然也成了我当年买婚车的首选,虽然后来有一些原因与它擦身而过,但也不影响我对它的爱!一转眼5年过去了,这5年里汽车行业发生了很多的变化,在9代车型进入了寿终正寝的时候,10代雅阁终于要来了,相比以往的雅阁,它变得太多,也让我对它的疑问也增添了不少;最大的变化是雅阁终于放弃了它用了几十年的自吸发动机,改用现在的SPORTTURBO(锐·T动)发动机。

  根据德尔福此前的预测,到2025年全球48V汽车年产量将达到1400万辆,其中将近800万台将在中国诞生。

  贷款方面,按央行基准利率首付30%三年期计算,首付万元左右(包含车款、上牌、保险、购置税和担保金等),月供5600元左右。

  从东风雪铁龙官方得到的消息是,引入国内的版本也会有同样的配置规格,具体信息还得等上市后才知道。不要小看70千瓦的动力,电动机在瞬间爆发的扭矩,让这台车在低速行驶时犹如电动车般迅捷。

  

  外盘头条:欧盟称意大利预算草案的偏差“前所未有”

 
责编:神话

外盘头条:欧盟称意大利预算草案的偏差“前所未有”

News Release

View printer-friendly version
<< Back

SINA Reports Second Quarter 2018 Unaudited Financial Results

比一般的mini或者BB系列包包要大,容量自然也会大一些,你甚至可以横放进一个常规尺寸的长款钱包,两侧都可以装很多东西,绝对是mini包界的装物能手。

BEIJING, Aug. 8, 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 second quarter ended June 30, 2018.

"We had another good quarter." said Charles Chao, Chairman and CEO of SINA. "Weibo continued to record healthy growth in both user base and monetization despite more intensified competition." said Mr. Chao. "For SINA businesses, we continued to see robust growth in user scale of SINA mobile apps, which bodes well for improved mobile monetization of SINA media." Mr. Chao added.

Second Quarter 2018 Highlights

  • Both net revenues and non-GAAP net revenues increased 50% year-over-year to $537.4 million and $534.8 million, respectively.
  • Advertising revenues increased 54% year-over-year to $454.1 million.
  • Non-advertising revenues increased 31% year-over-year to $83.3 million. Non-GAAP non-advertising revenues increased 32% year-over-year to $80.7 million.
  • Income from operations increased 44% year-over-year to $136.2 million. Non-GAAP income from operations increased 38% year-over-year to $159.1 million.
  • Net income attributable to SINA was $35.1 million, or $0.47 for diluted net income per share attributable to SINA's ordinary shareholders. Non-GAAP net income attributable to SINA was $66.5 million, or $0.89 for non-GAAP diluted net income per share attributable to SINA's ordinary shareholders.

Second Quarter 2018 Financial Results

For the second quarter of 2018, SINA reported net revenues of $537.4 million, an increase of 50% compared to $358.9 million for the same period last year. Non-GAAP net revenues for the second quarter of 2018 were $534.8 million, an increase of 50% compared to $356.3 million for the same period last year.

Advertising revenues for the second quarter of 2018 were $454.1 million, an increase of 54% compared to $295.2 million for the same period last year, primarily driven by an increase of $151.6 million, or 69% growth in Weibo advertising and marketing revenues.

Non-advertising revenues for the second quarter of 2018 were $83.3 million, an increase of 31% compared to $63.8 million for the same period last year. Non-GAAP non-advertising revenues for the second quarter of 2018 were $80.7 million, an increase of 32% compared to $61.2 million for the same period last year, benefiting from increased Weibo membership fees, revenue share from live broadcasting business, and revenues derived from SINA fin-tech businesses.

Gross margin for the second quarter of 2018 was 80%, compared to 74% for the same period last year. Advertising gross margin for the second quarter of 2018 was 82%, compared to 76% for the same period last year. The increase in advertising gross margin was mainly resulted from our revenue reporting changed from gross basis to net basis under the new accounting standard adopted. Non-advertising gross margin for the second quarter of 2018 was 69%, compared to 68% for the same period last year.

Operating expenses for the second quarter of 2018 totaled $294.7 million, compared to $171.9 million for the same period last year. Apart from the inclusion of marketing expense related to barter transactions recorded under the new accounting standard as illustrated below, the increase in operating expenses was primarily attributable to the increase in sales and marketing expenses for user acquisition of Weibo and SINA mobile apps, as well as the increase in personal costs for product development. Non-GAAP operating expenses for the second quarter of 2018 totaled $272.1 million, compared to $150.6 million for the same period last year.

Income from operations for the second quarter of 2018 was $136.2 million, an increase of 44% compared to $94.7 million for the same period last year. Operating margin was 25%, slightly down from 26% for the same period last year. Non-GAAP income from operations for the second quarter of 2018 was $159.1 million, an increase of 38% compared to $115.5 million for the same period last year. Non-GAAP operating margin was 30%, down from 32% for the same period last year.

Non-operating income for the second quarter of 2018 was $1.2 million, compared to a non-operating loss of $13.4 million for the same period last year. Non-operating income for the second quarter of 2018 included (i) a $20.1 million net interest and other income; (ii) a $16.4 million net loss on sale of investments, fair value changes and impairment on investments, which is excluded under non-GAAP measure; and (iii) a $2.5 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 loss for the second quarter of 2017 included (i) a $101.0 million gains from disposing of certain marketable securities and other gains, which are excluded under non-GAAP measure; (ii) a $113.1 million of investment impairment write down of the Company's investment in Leju, which is excluded under non-GAAP measure; and (iii) a $5.3 million loss pick-up from equity-method investments.????

Income tax expenses for the second quarter of 2018 were $27.9 million, compared to $19.1 million for the same period last year, primarily owing to higher profitability with a relatively stable tax rates in our PRC operation.

Net income attributable to SINA's ordinary shareholders for the second quarter of 2018 was $35.1 million, compared to $23.4 million for the same period last year. Diluted net income per share attributable to SINA's ordinary shareholders for the second quarter of 2018 was $0.47, compared to $0.31 for the same period last year. Non-GAAP net income attributable to SINA's ordinary shareholders for the second quarter of 2018 was $66.5 million, compared to $52.7 million for the same period last year. Non-GAAP diluted net income per share attributable to SINA's ordinary shareholders for the second quarter of 2018 was $0.89, compared to $0.70 for the same period last year.

As of June 30, 2018, SINA's cash, cash equivalents and short-term investments totaled $2.7 billion, compared to $3.4 billion as of December 31, 2017. The decrease of SINA's cash, cash equivalents and short-term investments was mainly resulted from continued investment activities and the execution of the Company's share repurchase program. For the second quarter of 2018, net cash provided by operating activities was $16.4 million, capital expenditures totaled $162.1 million, and depreciation and amortization expenses amounted to $10.0 million.

Share Repurchase Program

On June 30, 2018, the Company has completed its $500 million share repurchase program which was approved in February 2016 by the Company's board of directors. As of June 30, 2018, the Company has repurchased approximately 3.4 million shares for approximately $302.6 million under the program.

SINA's board of directors has approved a new share repurchase plan whereby SINA is authorized to repurchase its own ordinary shares with an aggregate value of up to $500 million for a period through the end of December 2019. SINA expects to fund the repurchase out of its existing cash balance.? The share repurchase may be effected on the open market at prevailing market prices and/or in negotiated transactions off the market from time to time as market conditions warrant and will be implemented in accordance with applicable rules under the U.S. Securities Exchange Act of 1934, as amended.

Financial Impact from New Revenue Guidance

As the Company adopted new revenue guidance ASC Topic 606 on 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 under Topic 605 ('Old Basis') , which is the Company's historic accounting method.

The Company's current period reported results which reflected the impact from the adoption of the new revenue guidance are as follows:


Three months ended June 30, 2018


Adjustments


Old Basis
ASC 605

?VAT


Barter
Transaction


New Basis
ASC 606


($ In thousands, except for percentage)

Net revenues

540,106


(30,159)


27,413


537,360

? - Portal

120,788


(6,656)


672


114,804

? - Weibo

423,593


(23,745)


26,741


426,589

Cost of revenues

136,632


(30,159)


-


106,473

Operating expenses

268,639


-


26,069


294,708

?? - Sales and marketing

157,520


-


26,069


183,589

Income from operations

134,835


-


1,344


136,179

Gross margin

74.7%






80.2%

Operating margin

25.0%






25.3%

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 August 8, 2018 (or 8:10 p.m.8:40 p.m. Beijing Time on August 8, 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:

3381946

A replay of the conference call will be available through morning Eastern Time August 16, 2018. The dial-in number is +61 2 9003 4211. The passcode for the replay is 3381946.

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 its 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


Six months ended




June 30,


March 31,


June 30,




2018


2017


2018


2018


2017


Net revenues(1):











??? Advertising

$ ? ? ? ? ? ? ? ? ? 454,091


$ ? ? ? ? ? ? ? ? ? 295,153


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


$ ? ? ? ? ? ? ? ?821,172


$ ? ? ? ? ? ? ? ?523,152


??? Non-advertising

83,269


63,779


73,671


156,940


113,845




537,360


358,932


440,752


978,112


636,997


Cost of revenues(1)(2):











??? Advertising??

80,583


72,211


83,115


163,698


139,879


??? Non-advertising

25,890


20,113


25,592


51,482


39,017




106,473


92,324


108,707


215,180


178,896


Gross profit

430,887


266,608


332,045


762,932


458,101














Operating expenses:











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

183,589


83,408


139,687


323,276


151,491


??? Product development (2)

83,877


63,486


85,137


169,014


117,906


??? General and administrative (2)

27,242


25,036


33,932


61,174


49,059




294,708


171,930


258,756


553,464


318,456


Income from operations

136,179


94,678


73,289


209,468


139,645














Non-operating income (loss):











?? Loss from equity method investments, net

(2,527)


(5,265)


(1,772)


(4,299)


(2,122)


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

(16,396)


(16,315)


7,226


(9,170)


(432)


?? Interest and other income, net

20,116


8,225


17,098


37,214


19,458




1,193


(13,355)


22,552


23,745


16,904














Income before income taxes

137,372


81,323


95,841


233,213


156,549


Income tax expense

(27,858)


(19,135)


(18,750)


(46,608)


(32,961)














Net income

109,514


62,188


77,091


186,605


123,588


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

74,462


38,798


48,397


122,859


61,674














Net income attributable to SINA's ordinary shareholders

$ ? ? ? ? ? ? ? ? ? ? 35,052


$ ? ? ? ? ? ? ? ? ? ? 23,390


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


$ ? ? ? ? ? ? ? ? ?63,746


$ ? ? ? ? ? ? ? ? ?61,914


























Basic net income per share

$ ? ? ? ? ? ? ? ? ? ? ? ? 0.49


$ ? ? ? ? ? ? ? ? ? ? ? ? 0.33


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


$ ? ? ? ? ? ? ? ? ? ? ?0.89


$ ? ? ? ? ? ? ? ? ? ? ?0.87


Diluted net income per share (4)

$ ? ? ? ? ? ? ? ? ? ? ? ? 0.47


$ ? ? ? ? ? ? ? ? ? ? ? ? 0.31


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


$ ? ? ? ? ? ? ? ? ? ? ?0.85


$ ? ? ? ? ? ? ? ? ? ? ?0.83














Shares used in computing basic net income per share

71,210


71,197


71,440


71,324


71,078














Shares used in computing diluted net income per share

73,553


73,890


74,036


73,793


73,667


























(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

$ ? ? ? ? ? ? ? ? ? ? ? 2,890


$ ? ? ? ? ? ? ? ? ? ? ? 2,106


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


$ ? ? ? ? ? ? ? ? ? ?5,431


$ ? ? ? ? ? ? ? ? ? ?4,336



Sales and marketing

6,474


5,269


4,880


11,354


9,852



Product development

7,735


6,668


7,487


15,222


13,658



General and administrative

6,915


8,143


7,408


14,323


15,530














(3) ?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.? The Company recognized $8.7 million of loss from fair value changes in the investments
for the three months ended June 30, 2018.? 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)













June 30,



December 31,





2018



2017



Assets



Current assets:








Cash and cash equivalents


$ ? ? ? ? ? ? ? ?1,049,225



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



Short-term investments


1,647,969



1,381,991



Restricted cash


137,806



216,151



Accounts receivable, net


398,654



285,681



Prepaid expenses and other current assets


458,402



228,238



????? Subtotal


3,692,056



4,102,613










Property and equipment, net


259,627



262,676


Goodwill and intangible assets, net


270,366



104,207


Long-term investments (1)


1,458,380



1,288,816


Other assets


94,307



57,082


Total assets


$ ? ? ? ? ? ? ? ?5,774,736



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











Liabilities and Shareholders' Equity



Current liabilities:








Accounts payable


$ ? ? ? ? ? ? ? ? ? 138,680



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



Amount due to customers


137,806



216,151



Accrued expenses and other current liabilities


478,363



446,779



Short-term bank loan


87,278



89,309



Convertible debt?


153,085



153,092



Deferred revenues


144,520



134,580



Income taxes payable


80,948



102,458



???? Subtotal


1,220,680



1,272,800










Convertible debt


882,054



879,983


Long-term deferred revenues


48,965



54,372


Other long-term liabilities


8,279



8,510



???? Total liabilities


2,159,978



2,215,665










Shareholders' equity








SINA shareholders' equity (1)?


2,738,678



2,846,842



Non-controlling interests


876,080



752,887



???? Total shareholders' equity?


3,614,758



3,599,729










Total liabilities and shareholders' equity


$ ? ? ? ? ? ? ? ?5,774,736



$ ? ? ? ? ? ? ? 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


Six months ended



June 30,


March 31,


June 30,



2018


2017


2018


2018


2017













Net revenues











Portal:











Portal Advertising

$ ? ? ? ? ? ? ? ? 84,173


$ ? ? ? ? ? ? ? ? 77,931


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


$ ? ? ? ? ? ? ? 148,305


$ ? ? ? ? ? ? ? 137,722


Other

30,631


28,746


26,774


57,405


48,908


Subtotal

114,804


106,677


90,906


205,710


186,630













Weibo:











Advertising and marketing

369,942


218,340


302,949


672,891


387,637


Weibo VAS

56,647


35,033


46,934


103,581


64,937


?????Subtotal

426,589


253,373


349,883


776,472


452,574













Elimination

(4,033)


(1,118)


(37)


(4,070)


(2,207)



$ ? ? ? ? ? ? ? 537,360


$ ? ? ? ? ? ? ? 358,932


$ ? ? ? ? ? ? ? 440,752


$ ? ? ? ? ? ? ? 978,112


$ ? ? ? ? ? ? ? 636,997













Cost of revenues











Portal:











Portal Advertising

$ ? ? ? ? ? ? ? ? 28,546


$ ? ? ? ? ? ? ? ? 27,647


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


$ ? ? ? ? ? ? ? ? 57,919


$ ? ? ? ? ? ? ? ? 55,129


Other

20,146


14,368


16,469


36,615


27,070


Subtotal

48,692


42,015


45,842


94,534


82,199













Weibo

61,790


50,372


62,902


124,692


96,822













Elimination

(4,009)


(63)


(37)


(4,046)


(125)



$ ? ? ? ? ? ? ?106,473


$ ? ? ? ? ? ? ? ?92,324


$ ? ? ? ? ? ? ? 108,707


$ ? ? ? ? ? ? ? 215,180


$ ? ? ? ? ? ? ? ?178,896













Gross margin











?????Portal

58%


61%


50%


54%


56%


?????Weibo

86%


80%


82%


84%


79%



80%


74%


75%


78%


72%













?

SINA CORPORATION

UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS

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









































Three months ended



June 30, 2018


June 30, 2017


March 31, 2018







Non-GAAP






Non-GAAP






Non-GAAP



Actual


Adjustments


Results


Actual


Adjustments


Results


Actual


Adjustments


Results




















Advertising revenues

$ ? ?454,091




$ ? ?454,091


$ ? ?295,153




$ ? ?295,153


$ ? ?367,081




$ ? ?367,081

Non-advertising revenues

83,269


(2,609)

?(a)?

80,660


63,779


(2,609)

?(a)?

61,170


73,671


(2,609)

?(a)?

71,062

Net revenues

$ ? ? 537,360


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


$ ? ? 534,751


$ ? ? 358,932


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


$ ? ? 356,323


$ ? ? 440,752


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


$ ? ? 438,143
























(2,609)

?(a)?





(2,609)

?(a)?





(2,609)

?(a)?






2,890

?(b)?





2,106

?(b)?





2,541

?(b)?


Gross profit

$ ? ? 430,887


$ ? ? ? ? ? ? ? ? ?281


$ ? ? 431,168


$ ? ? ?266,608


$ ? ? ? ? ? ? ? ?(503)


$ ? ? 266,105


$ ? ? 332,045


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


$ ? ? 331,977
























(21,124)

?(b)?





(20,080)

?(b)?





(19,775)

?(b)?






(1,523)

?(c)?





(1,227)

?(c)?





(1,635)

?(c)?


Operating expenses

$ ? ? 294,708


$ ? ? ? ? ? ?(22,647)


$ ? ? 272,061


$ ? ? ?171,930


$ ? ? ? ? ? ?(21,307)


$ ? ? 150,623


$ ? ? 258,756


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


$ ? ? 237,346
























(2,609)

?(a)?





(2,609)

?(a)?





(2,609)

?(a)?






24,014

?(b)?





22,186

?(b)?





22,316

?(b)?






1,523

?(c)?





1,227

?(c)?





1,635

?(c)?


Income from operations

$ ? ? 136,179


$ ? ? ? ? ? ? 22,928


$ ? ? 159,107


$ ? ? ? ?94,678


$ ? ? ? ? ? ? 20,804


$ ? ? 115,482


$ ? ? ? 73,289


$ ? ? ? ? ? ? 21,342


$ ? ? ? 94,631
























(2,609)

?(a)?











(2,609)

?(a)?






24,014

?(b)?





(2,609)

?(a)?





22,316

?(b)?






1,523

?(c)?





22,186

?(b)?





1,635

?(c)?






40

?(d)?





1,227

?(c)?





(451)

?(d)?






16,396

?(e)?





75

?(d)?





(7,226)

(e)






(8,849)

(f)





16,315

?(e)?





(8,183)

?(f)?






1,035

?(g)?





(7,745)

?(f)?





1,035

?(g)?






(85)

?(h)?





(180)

?(h)?





21

?(h)?


Net income attributable to SINA's ordinary shareholders

$ ? ? ? 35,052


$ ? ? ? ? ? ? 31,465


$ ? ? ? 66,517


$ ? ? ? ?23,390


$ ? ? ? ? ? ? 29,269


$ ? ? ? 52,659


$ ? ? ? 28,694


$ ? ? ? ? ? ? ? 6,538


$ ? ? ? 35,232







































Diluted net income per share *

$ ? ? ? ? ? 0.47




$ ? ? ? ? ? 0.89


$ ? ? ? ? ? ?0.31




$ ? ? ? ? ? 0.70


$ ? ? ? ? ? 0.38




$ ? ? ? ? ? 0.47




















Shares used in computing diluted net income? per share

73,553


-


73,553


73,890


-


73,890


74,036


-


74,036







































Gross margin - advertising

82%


1%


83%


76%


-


76%


77%


1%


78%

Gross margin - non-advertising

69%


-1%


68%


68%


-1%


67%


65%


-1%


64%

Operating margin

25%


5%


30%


26%


6%


32%


17%


5%


22%






















?Six months ended?









June 30, 2018


June 30, 2017













Non-GAAP






Non-GAAP









Actual


Adjustments


Results


Actual


Adjustments


Results


























Advertising revenues

$ ? ? 821,172




$ ? ? 821,172


$ ? ? ?523,152




$ ? ? 523,152







Non-advertising revenues

156,940


(5,218)

?(a)?

151,722


113,845


(5,218)

?(a)?

108,627







Net revenues

$ ? ? 978,112


$ ? ? ? ? ? ? ?(5,218)


$ ? ? 972,894


$ ? ? ?636,997


$ ? ? ? ? ? ? ?(5,218)


$ ? ? 631,779






























(5,218)

?(a)?





(5,218)

?(a)?












5,431

?(b)?





4,336

?(b)?








Gross profit

$ ? ? 762,932


$ ? ? ? ? ? ? ? ? ?213


$ ? ? 763,145


$ ? ? ?458,101


$ ? ? ? ? ? ? ? ? (882)


$ ? ? 457,219






























(40,899)

?(b)?





(39,040)

?(b)?












(3,158)

?(c)?





(1,382)

?(c)?








Operating expenses

$ ? ? 553,464


$ ? ? ? ? ? ?(44,057)


$ ? ? 509,407


$ ? ? ?318,456


$ ? ? ? ? ? ?(40,422)


$ ? ? 278,034






























(5,218)

?(a)?





(5,218)

?(a)?












46,330

?(b)?





43,376

?(b)?












3,158

?(c)?





1,382

?(c)?








Income from operations

$ ? ? 209,468


$ ? ? ? ? ? ? 44,270


$ ? ? 253,738


$ ? ? ?139,645


$ ? ? ? ? ? ? 39,540


$ ? ? 179,185






























(5,218)

?(a)?


















46,330

?(b)?





(5,218)

?(a)?












3,158

?(c)?





43,376

?(b)?












(411)

(d)





1,382

?(c)?












9,170

?(e)?





299

?(d)?












(17,032)

?(f)?





432

?(e)?












2,070

?(g)?





(13,239)

?(f)?












(64)

?(h)?





1,292

?(h)?








Net income attributable to SINA's ordinary shareholders

$ ? ? ? 63,746


$ ? ? ? ? ? ? 38,003


$ ? ? 101,749


$ ? ? ? ?61,914


$ ? ? ? ? ? ? 28,324


$ ? ? ? 90,238













































Diluted net income per share *

$ ? ? ? ? ? 0.85




$ ? ? ? ? ? 1.35


$ ? ? ? ? ? ?0.83




$ ? ? ? ? ? 1.21


























Shares used in computing diluted net income per share

73,793


-


73,793


73,667


-


73,667













































Gross margin - advertising

80%


1%


81%


73%


1%


74%







Gross margin - non-advertising

67%


-1%


66%


66%


-2%


64%







Operating margin

21%


5%


26%


22%


6%


28%


























(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



June 30, 2018


June 30, 2017


March 31, 2018



Actual


Adjustments


Non-GAAP Results


Actual


Adjustments


Non-GAAP Results


Actual


Adjustments


Non-GAAP Results





















To exclude stock-based compensation



$ ? ? ? ? ? ? ? ? ?833






$ ? ? ? ? ? ? ? ? ?736






$ ? ? ? ? ? ? ? ? ?584




To exclude amortization of intangible?



















? assets resulting from business acquisitions



1,115






1,035






1,123




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



75






(1,319)






1,669




To exclude gain resulting from the fair value changes in?



















? investments, net



(1,313)






(637)






(3,339)




To exclude tax impacts related to amortization of intangible assets



(253)






(143)






(178)




Loss from equity method investments, net

$ ? ? ? (2,944)


$ ? ? ? ? ? ? ? ? ?457


$ ? ? ? (2,487)


$ ? ? ? ?(4,862)


$ ? ? ? ? ? ? ? ? (328)


$ ? ? ? (5,190)


$ ? ? ? (2,082)


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


$ ? ? ? (2,223)


Share of amortization of equity investments'?



















? intangibles not on their books

351


(351)


-


(523)


523


-


224


(224)


-


Share of tax impacts related to amortization of?



















? equity investments' intangibles not on their books

66


(66)


-


120


(120)


-


86


(86)


-



$ ? ? ? (2,527)


$ ? ? ? ? ? ? ? ? ? ?40


$ ? ? ? (2,487)


$ ? ? ? ? (5,265)


$ ? ? ? ? ? ? ? ? ? ?75


$ ? ? ? (5,190)


$ ? ? ? (1,772)


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


$ ? ? ? (2,223)









































?Six months ended?









June 30, 2018


June 30, 2017













Non-GAAP






Non-GAAP









Actual


Adjustments


Results


Actual


Adjustments


Results



























To exclude stock-based compensation



$ ? ? ? ? ? ? ? 1,417






$ ? ? ? ? ? ? ? 1,056










To exclude amortization of intangible?



















? assets resulting from business acquisitions



2,238






1,137










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



1,744






(1,640)










To exclude gain resulting from the fair value changes in?



















? investments, net



(4,652)






(598)










To exclude tax impacts related to amortization of intangible assets



(431)






(164)










Loss from equity method investments, net

$ ? ? ? (5,026)


$ ? ? ? ? ? ? ? ? ?316


$ ? ? ? (4,710)


$ ? ? ? ? (1,614)


$ ? ? ? ? ? ? ? ? (209)


$ ? ? ? (1,823)








Share of amortization of equity investments'?



















? intangibles not on their books

575


(575)


-


(648)


648


-








Share of tax impacts related to amortization of?



















? equity investments' intangibles not on their books

152


(152)


-


140


(140)


-









$ ? ? ? (4,299)


$ ? ? ? ? ? ? ? ? (411)


$ ? ? ? (4,710)


$ ? ? ? ? (2,122)


$ ? ? ? ? ? ? ? ? ?299


$ ? ? ? (1,823)














































* 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-second-quarter-2018-unaudited-financial-results-300693896.html

SOURCE SINA Corporation

泰州 舞阳县 渭南市 新竹县 山西省
凤翔县 健康 北流 安福县 新郑市