PEKING (dpa-AFX) - Sina Corp. (SINA) reported that its second-quarter net income attributable to the company declined to $10.0 million, from $25.2 million for the same period last year. Net income per share was $0.15, compared to $0.38 for the same quarter last year.
Non-GAAP net income attributable to SINA for the second quarter of 2011 was $13.3 million, compared to $27.7 million for the same period last year. Non-GAAP net income per share was $0.20, compared to $0.42 last year.
Net revenues were $119.0 million, up from $99.4 million for the same period last year. Non-GAAP net revenues for the second quarter of 2011 totaled $114.3 million, compared to $94.7 million for the same period last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share on revenues of $114.71 million for the quarter. Analysts' estimates typically exclude special items.
SINA estimates that its non-GAAP net revenues for the third quarter of 2011 will be between $123 million and $126 million, with advertising revenues to be between $100million and $102 million and non-GAAP non-advertising revenues to be between $23 million and $24 million. Analysts expect the company to report earnings of $0.24 per share on revenues of $125.72 million for the third-quarter.
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