Sina 4Q net income up 49%

Internet portal company Sina’s fourth-quarter net income rose 49% on strong advertising growth and an improving mobile business, besting Wall Street expectations, the Wall Street Journal reported. Sina’s net income rose to US$17.5 million from US$11.7 million a year earlier. Revenue surged by 25% to US$70.7 million, beating Sina’s internal forecasts. Advertising revenues rose 40% to US$50.1 million, though non-advertising revenues fell 0.5% to US$20.6 million. Revenues for mobile value-added services fell 3% from the previous year but grew 12% from the previous quarter. Sina said it expects first-quarter revenues of US$66 million-68 million.