Sina Corp’s Chief Executive Charles Chao said online advertising revenues would fall sharply in the first quarter due to economic uncertainty, the South China Morning Post reported. Sina, the operator of China’s largest internet portal, forecast first quarter revenues of US$73-77 million on advertising income of US$43-46 million. The company said fourth-quarter revenues were US$101.5 million, with advertising revenues of US$69.5 million. Analysts said Sina had concerns about the prospects of its US$1.3 billion merger with Focus Media Holdings, which would give Sina advertising revenue from Focus’s flat-panel screen advertising network.
Categories