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SINA Reports Third Quarter 2016 Financial Results
Third Quarter 2016 Highlights
- Net revenues increased 21% year over year to
$274.9 million . Non-GAAP net revenues increased 22% year over year to$272.3 million . - Advertising revenues grew 21% year over year to
$233.6 million . - Income from operations increased 147% year over year to
$36.3 million . Operating margin was 13%, up from 6% for the same period last year. Non-GAAP income from operations increased 99% year over year to$56.5 million . Non-GAAP operating margin was 21%, up from 13% for the same period last year. - Net income attributable to
SINA was$146.5 million , or$1.90 diluted net income per share. Non-GAAP net income attributable toSINA was$43.7 million , or$0.56 diluted net income per share. - Weibo's monthly active users ("MAUs") in
September 2016 grew 34% year over year to 297 million, 89% of which were mobile users. Average daily active users ("DAUs") inSeptember 2016 grew 32% year over year to 132 million.
"We are delighted to have another solid quarter." said
"With strong growth in user base, revenues and profitability, Weibo has demonstrated its platform value with the network effect of the content ecosystem and strong monetization capability." said Mr. Chao. "We take great pride that Weibo is returning to the center stage of Chinese Internet market."
Third Quarter 2016 Financial Results
For the third quarter of 2016,
Online advertising revenues for the third quarter of 2016 were
Non-advertising revenues for the third quarter of 2016 were
Gross margin for the third quarter of 2016 was 67%, compared to 63% for the same period last year. Advertising gross margin for the third quarter of 2016 was 70%, compared to 64% for the same period last year. The increasing advertising revenue proportion contributed by small and medium enterprises customers in both portal and Weibo business is the key driver that resulted in a higher gross margin for our advertising business. Non-advertising gross margin for the third quarter of 2016 was 54%, compared to 60% for the same period last year. The decrease in non-advertising gross margin was primarily due to increasing proportion of portal non-advertising revenues, which contributed lower gross margin.
Operating expenses for the third quarter of 2016 totaled
Income from operations for the third quarter of 2016 was
Non-operating income for the third quarter of 2016 was
Net income attributable to
As of
Other Developments
Completion of E-House Merger
As previously announced on
On the Closing Date,
In-Kind Distribution
On
Annual General Meeting
On
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 (loss) from operations, non-GAAP net income (loss) attributable to
The Company's non-GAAP financial measures exclude recognition of deferred revenues in relation to the equity investment in
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
US: |
+1 845 675 0438 |
Hong Kong: |
+852 3018 6776 |
China: |
400 120 0654 |
International: |
+65 6713 5440 |
Passcode for all regions: |
15998968 |
A replay of the conference call will be available through morning Eastern Time
About
We are a leading online media company serving
SINA.com offers distinct and targeted professional content on each of its region-specific websites and a full range of complementary offerings. SINA.cn and SINA Mobile Apps provide news information, professional and entertainment content from SINA.com customized for mobile users in WAP (mobile browser) and mobile application format. Weibo is a leading social media platform for people to create, distribute and discover Chinese-language content. Based on an open platform architecture, Weibo allows users to create and post feeds and attach multi-media content, as well as access a wide range of organically and third-party developed applications, such as online games.
Through these properties and other product lines, we 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,
Contact:
Investor Relations
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 |
Nine months ended |
||||||||||
September 30, |
June 30, |
September 30, |
|||||||||
2016 |
2015 |
2016 |
2016 |
2015 |
|||||||
Net revenues: |
|||||||||||
Advertising |
$ 233,633 |
$ 193,459 |
$ 205,031 |
$ 601,631 |
$ 520,070 |
||||||
Non-advertising |
41,242 |
32,835 |
38,931 |
115,881 |
104,409 |
||||||
274,875 |
226,294 |
243,962 |
717,512 |
624,479 |
|||||||
Cost of revenues *: |
|||||||||||
Advertising |
71,194 |
69,741 |
73,083 |
212,466 |
202,668 |
||||||
Non-advertising |
19,133 |
13,276 |
15,834 |
47,672 |
43,658 |
||||||
90,327 |
83,017 |
88,917 |
260,138 |
246,326 |
|||||||
Gross profit |
184,548 |
143,277 |
155,045 |
457,374 |
378,153 |
||||||
Operating expenses: |
|||||||||||
Sales and marketing * |
64,176 |
53,342 |
56,895 |
172,773 |
167,577 |
||||||
Product development * |
55,674 |
54,417 |
53,522 |
161,690 |
157,818 |
||||||
General and administrative * |
28,366 |
20,830 |
23,808 |
74,308 |
70,123 |
||||||
148,216 |
128,589 |
134,225 |
408,771 |
395,518 |
|||||||
Income (Loss) from operations |
36,332 |
14,688 |
20,820 |
48,603 |
(17,365) |
||||||
Non-operating income: |
|||||||||||
Earning (Loss) from equity method investments, net |
5,534 |
93 |
(6,190) |
(11,220) |
1,016 |
||||||
Gain on sale of investments/business and impairment on investments, net |
133,505 |
(1,066) |
34,925 |
196,657 |
16,881 |
||||||
Fair value change in option liability |
(2,653) |
- |
- |
(2,653) |
- |
||||||
Interest and other income, net |
6,703 |
5,892 |
6,308 |
19,619 |
18,130 |
||||||
143,089 |
4,919 |
35,043 |
202,403 |
36,027 |
|||||||
Income before income taxes |
179,421 |
19,607 |
55,863 |
251,006 |
18,662 |
||||||
Income tax expenses |
(19,050) |
(4,756) |
(2,747) |
(21,781) |
(4,793) |
||||||
Net income |
160,371 |
14,851 |
53,116 |
229,225 |
13,869 |
||||||
Less: Net income attributable to non-controlling interests |
13,853 |
5,085 |
9,789 |
24,060 |
2,744 |
||||||
Net income attributable to SINA |
$ 146,518 |
$ 9,766 |
$ 43,327 |
$ 205,165 |
$ 11,125 |
||||||
Basic net income per share attributable to SINA |
$ 2.08 |
$ 0.17 |
$ 0.62 |
$ 2.93 |
$ 0.19 |
||||||
Diluted net income per share attributable to SINA ** |
$ 1.90 |
$ 0.16 |
$ 0.59 |
$ 2.74 |
$ 0.18 |
||||||
Shares used in computing basic |
|||||||||||
net income per share attributable to SINA |
70,420 |
58,512 |
70,047 |
70,108 |
58,559 |
||||||
Shares used in computing diluted |
|||||||||||
net income per share attributable to SINA |
78,303 |
58,799 |
77,202 |
77,486 |
58,854 |
||||||
* Stock-based compensation in each category: |
|||||||||||
Cost of revenues - advertising |
$ 2,380 |
$ 1,569 |
$ 1,775 |
$ 5,721 |
$ 4,131 |
||||||
Sales and marketing |
4,791 |
3,121 |
3,303 |
10,937 |
8,337 |
||||||
Product development |
7,261 |
4,264 |
3,592 |
15,775 |
10,863 |
||||||
General and administrative |
7,853 |
6,437 |
7,165 |
21,929 |
19,960 |
||||||
** |
Net income attributable to SINA 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) |
|||||||
September 30, |
December 31, |
||||||
2016 |
2015 |
||||||
Assets |
|||||||
Current assets: |
|||||||
Cash and cash equivalents |
$ 1,158,970 |
$ 763,439 |
|||||
Short-term investments |
1,050,206 |
1,446,414 |
|||||
Restricted cash |
304,375 |
140,652 |
|||||
Accounts receivable, net |
221,132 |
228,732 |
|||||
Prepaid expenses and other current assets * |
288,088 |
135,416 |
|||||
Subtotal |
3,022,771 |
2,714,653 |
|||||
Property and equipment, net |
248,657 |
47,495 |
|||||
Goodwill and intangible assets, net |
57,616 |
61,954 |
|||||
Long-term investments |
1,324,017 |
1,212,640 |
|||||
Other assets |
192,175 |
320,205 |
|||||
Total assets |
$ 4,845,236 |
$ 4,356,947 |
|||||
Liabilities and Shareholders' Equity |
|||||||
Current liabilities: |
|||||||
Accounts payable ** |
$ 117,467 |
$ 81,351 |
|||||
Amount due to customers |
304,375 |
140,652 |
|||||
Accrued liabilities ** |
310,449 |
265,490 |
|||||
Short-term loan |
82,081 |
- |
|||||
Convertible debt * |
799,301 |
795,108 |
|||||
Deferred revenues |
96,862 |
79,528 |
|||||
Income taxes payable |
30,086 |
16,426 |
|||||
Option liability |
2,653 |
- |
|||||
Subtotal |
1,743,274 |
1,378,555 |
|||||
Long-term deferred revenues |
67,892 |
76,003 |
|||||
Other long-term liabilities |
25,050 |
25,721 |
|||||
Total liabilities |
1,836,216 |
1,480,279 |
|||||
Shareholders' equity |
|||||||
SINA shareholders' equity |
2,624,124 |
2,565,272 |
|||||
Non-controlling interests |
384,896 |
311,396 |
|||||
Total shareholders' equity |
3,009,020 |
2,876,668 |
|||||
Total liabilities and shareholders' equity |
$ 4,845,236 |
$ 4,356,947 |
|||||
* Effectively January 2016, ASU 2015-3 issued by FASB requires entities to present the issuance |
|||||||
** Commencing on January 1, 2016, in order to enhance comparability with industry peers, |
|||||||
SINA CORPORATION |
|||||||||||
UNAUDITED ADDITIONAL INFORMATION |
|||||||||||
(U.S. Dollars in thousands) |
|||||||||||
Three months ended |
Nine months ended |
||||||||||
September 30, |
June 30, |
September 30, |
|||||||||
2016 |
2015 |
2016 |
2016 |
2015 |
|||||||
Net revenues |
|||||||||||
Portal: |
|||||||||||
Portal Advertising |
$ 79,855 |
$ 87,598 |
$ 78,694 |
$ 222,270 |
$ 247,182 |
||||||
Other |
21,058 |
13,962 |
19,219 |
55,941 |
48,431 |
||||||
Subtotal |
100,913 |
101,560 |
97,913 |
278,211 |
295,613 |
||||||
Weibo: |
|||||||||||
Advertising and marketing |
156,693 |
105,861 |
127,173 |
383,112 |
272,888 |
||||||
Weibo VAS |
20,184 |
18,873 |
19,712 |
59,940 |
55,978 |
||||||
Subtotal |
176,877 |
124,734 |
146,885 |
443,052 |
328,866 |
||||||
Elimination |
(2,915) |
- |
(836) |
(3,751) |
- |
||||||
$ 274,875 |
$ 226,294 |
$ 243,962 |
$ 717,512 |
$ 624,479 |
|||||||
Cost of revenues |
|||||||||||
Portal: |
|||||||||||
Portal Advertising |
$ 32,540 |
$ 37,240 |
$ 36,804 |
$ 104,881 |
$ 117,261 |
||||||
Other |
13,458 |
8,536 |
11,502 |
33,691 |
29,210 |
||||||
Subtotal |
45,998 |
45,776 |
48,306 |
138,572 |
146,471 |
||||||
|
44,494 |
37,241 |
40,657 |
121,777 |
99,855 |
||||||
Elimination |
(165) |
- |
(46) |
(211) |
- |
||||||
$ 90,327 |
$ 83,017 |
$ 88,917 |
$ 260,138 |
$ 246,326 |
|||||||
Gross margin |
|||||||||||
Portal |
54% |
55% |
51% |
50% |
50% |
||||||
|
75% |
70% |
72% |
73% |
70% |
||||||
67% |
63% |
64% |
64% |
61% |
|||||||
SINA CORPORATION |
||||||||||||||||||
UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS |
||||||||||||||||||
(U.S. Dollars in thousands, except per share data) |
||||||||||||||||||
Three months ended |
||||||||||||||||||
September 30, 2016 |
September 30, 2015 |
June 30, 2016 |
||||||||||||||||
Non-GAAP |
Non-GAAP |
Non-GAAP |
||||||||||||||||
Actual |
Adjustments |
Results |
Actual |
Adjustments |
Results |
Actual |
Adjustments |
Results |
||||||||||
Advertising revenues |
$ 233,633 |
$ 233,633 |
$ 193,459 |
$ 193,459 |
$ 205,031 |
$ 205,031 |
||||||||||||
Non-advertising revenues |
41,242 |
(2,609) |
(a) |
38,633 |
32,835 |
(2,609) |
(a) |
30,226 |
38,931 |
(2,609) |
(a) |
36,322 |
||||||
Net revenues |
$ 274,875 |
$ (2,609) |
$ 272,266 |
$ 226,294 |
$ (2,609) |
$ 223,685 |
$ 243,962 |
$ (2,609) |
$ 241,353 |
|||||||||
(2,609) |
(a) |
(2,609) |
(a) |
(2,609) |
(a) |
|||||||||||||
2,380 |
(b) |
1,569 |
(b) |
1,775 |
(b) |
|||||||||||||
Gross profit |
$ 184,548 |
$ (229) |
$ 184,319 |
$ 143,277 |
$ (1,040) |
$ 142,237 |
$ 155,045 |
$ (834) |
$ 154,211 |
|||||||||
(19,905) |
(b) |
(13,822) |
(b) |
(14,060) |
(b) |
|||||||||||||
(457) |
(c) |
(883) |
(c) |
(461) |
(c) |
|||||||||||||
Operating expenses |
$ 148,216 |
$ (20,362) |
$ 127,854 |
$ 128,589 |
$ (14,705) |
$ 113,884 |
$ 134,225 |
$ (14,521) |
$ 119,704 |
|||||||||
(2,609) |
(a) |
(2,609) |
(a) |
(2,609) |
(a) |
|||||||||||||
22,285 |
(b) |
15,391 |
(b) |
15,835 |
(b) |
|||||||||||||
457 |
(c) |
883 |
(c) |
461 |
(c) |
|||||||||||||
Income from operations |
$ 36,332 |
$ 20,133 |
$ 56,465 |
$ 14,688 |
$ 13,665 |
$ 28,353 |
$ 20,820 |
$ 13,687 |
$ 34,507 |
|||||||||
(2,609) |
(a) |
|||||||||||||||||
22,285 |
(b) |
(2,609) |
(a) |
(2,609) |
(a) |
|||||||||||||
457 |
(c) |
15,391 |
(b) |
15,835 |
(b) |
|||||||||||||
2,032 |
(d) |
883 |
(c) |
461 |
(c) |
|||||||||||||
(133,505) |
(e) |
2,882 |
(d) |
2,427 |
(d) |
|||||||||||||
2,653 |
(f) |
1,066 |
(e) |
(34,925) |
(e) |
|||||||||||||
(10,650) |
(g) |
(3,850) |
(g) |
(5,646) |
(g) |
|||||||||||||
1,398 |
(h) |
1,094 |
(h) |
1,085 |
(h) |
|||||||||||||
15,133 |
(i) |
(206) |
(i) |
(102) |
(i) |
|||||||||||||
Net income attributable to SINA |
$ 146,518 |
$ (102,806) |
$ 43,712 |
$ 9,766 |
$ 14,651 |
$ 24,417 |
$ 43,327 |
$ (23,474) |
$ 19,853 |
|||||||||
Diluted net income per share attributable to SINA * |
$ 1.90 |
$ 0.56 |
$ 0.16 |
$ 0.39 |
$ 0.59 |
$ 0.27 |
||||||||||||
Shares used in computing diluted |
||||||||||||||||||
net income per share attributable to SINA |
78,303 |
- |
78,303 |
58,799 |
6,467 |
(j) |
65,266 |
77,202 |
- |
77,202 |
||||||||
Gross margin - advertising |
70% |
1% |
71% |
64% |
1% |
65% |
64% |
1% |
65% |
|||||||||
Gross margin - non-advertising |
54% |
-4% |
50% |
60% |
-4% |
56% |
59% |
-3% |
56% |
|||||||||
Nine months ended |
||||||||||||||||||
September 30, 2016 |
September 30, 2015 |
|||||||||||||||||
Non-GAAP |
Non-GAAP |
|||||||||||||||||
Actual |
Adjustments |
Results |
Actual |
Adjustments |
Results |
|||||||||||||
Advertising revenues |
$ 601,631 |
$ 601,631 |
$ 520,070 |
$ 520,070 |
||||||||||||||
Non-advertising revenues |
115,881 |
(7,827) |
(a) |
108,054 |
104,409 |
(7,827) |
(a) |
96,582 |
||||||||||
Net revenues |
$ 717,512 |
$ (7,827) |
$ 709,685 |
$ 624,479 |
$ (7,827) |
$ 616,652 |
||||||||||||
(7,827) |
(a) |
(7,827) |
(a) |
|||||||||||||||
5,721 |
(b) |
4,131 |
(b) |
|||||||||||||||
Gross profit |
$ 457,374 |
$ (2,106) |
$ 455,268 |
$ 378,153 |
$ (3,696) |
$ 374,457 |
||||||||||||
(48,641) |
(b) |
(39,160) |
(b) |
|||||||||||||||
(1,475) |
(c) |
(2,691) |
(c) |
|||||||||||||||
Operating expenses |
$ 408,771 |
$ (50,116) |
$ 358,655 |
$ 395,518 |
$ (41,851) |
$ 353,667 |
||||||||||||
(7,827) |
(a) |
(7,827) |
(a) |
|||||||||||||||
54,362 |
(b) |
43,291 |
(b) |
|||||||||||||||
1,475 |
(c) |
2,691 |
(c) |
|||||||||||||||
Income (Loss) from operations |
$ 48,603 |
$ 48,010 |
$ 96,613 |
$ (17,365) |
$ 38,155 |
$ 20,790 |
||||||||||||
(7,827) |
(a) |
|||||||||||||||||
54,362 |
(b) |
(7,827) |
(a) |
|||||||||||||||
1,475 |
(c) |
43,291 |
(b) |
|||||||||||||||
3,978 |
(d) |
2,691 |
(c) |
|||||||||||||||
(196,657) |
(e) |
6,051 |
(d) |
|||||||||||||||
2,653 |
(f) |
(16,881) |
(e) |
|||||||||||||||
(20,815) |
(g) |
(9,730) |
(g) |
|||||||||||||||
3,567 |
(h) |
3,304 |
(h) |
|||||||||||||||
14,908 |
(i) |
(623) |
(i) |
|||||||||||||||
Net income attributable to SINA |
$ 205,165 |
$ (144,356) |
$ 60,809 |
$ 11,125 |
$ 20,276 |
$ 31,401 |
||||||||||||
Diluted net income per share attributable to SINA * |
$ 2.74 |
$ 0.82 |
$ 0.18 |
$ 0.50 |
||||||||||||||
Shares used in computing diluted |
||||||||||||||||||
net income per share attributable to SINA |
77,486 |
- |
77,486 |
58,854 |
- |
58,854 |
||||||||||||
Gross margin - advertising |
65% |
1% |
66% |
61% |
1% |
62% |
||||||||||||
Gross margin - non-advertising |
59% |
-3% |
56% |
58% |
-3% |
55% |
||||||||||||
(a) To adjust the recognition of deferred revenue related to the license agreements granted to E-House. |
||||||||||||||||||
(b) To adjust stock-based compensation. |
||||||||||||||||||
(c) To adjust amortization of intangible assets. |
||||||||||||||||||
(d) To adjust 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 adjust (gain) loss on sale of investments/business, (gain) loss on deemed disposal and impairment on investments, net. |
||||||||||||||||||
(f) To adjust the change in fair value of option liability. |
||||||||||||||||||
(g) To adjust Non-GAAP to GAAP reconciling items for the income attributable to non-controlling interests. |
||||||||||||||||||
(h) To adjust the amortization of convertible debt issuance cost. |
||||||||||||||||||
(i) To adjust the provision for income tax related to item (c) and (e). Other non-GAAP to GAAP reconciling items have no income tax effect.** |
||||||||||||||||||
(j) To adjust the number of shares for dilution resulted from convertible debt and unvested equity granted. |
||||||||||||||||||
* |
Net income (loss) attributable to SINA 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, full |
|||||||||||||||||
UNAUDITED RECONCILIATION OF SINA'S SHARE OF EQUITY INVESTMENTS' NON-GAAP TO GAAP RESULTS* |
||||||||||||||||||
Three months ended |
||||||||||||||||||
September 30, 2016 |
September 30, 2015 |
June 30, 2016 |
||||||||||||||||
Actual |
Adjustments |
Non-GAAP Results |
Actual |
Adjustments |
Non-GAAP Results |
Actual |
Adjustments |
Non-GAAP Results |
||||||||||
To adjust stock-based compensation |
$ 1,409 |
$ 1,620 |
$ 1,356 |
|||||||||||||||
To adjust amortization of intangible |
||||||||||||||||||
assets resulting from business acquisitions |
618 |
598 |
587 |
|||||||||||||||
To adjust gain on sale of investments |
(12) |
- |
(739) |
|||||||||||||||
To adjust the loss resulting from the |
||||||||||||||||||
fair value changes in investments |
41 |
551 |
1,236 |
|||||||||||||||
To adjust tax impacts related |
||||||||||||||||||
to amortization of intangible assets |
(179) |
(182) |
(180) |
|||||||||||||||
Earning (Loss) from equity method investments, net |
$ 5,689 |
$ 1,877 |
$ 7,566 |
$ 388 |
$ 2,587 |
$ 2,975 |
$ (6,023) |
$ 2,260 |
$ (3,763) |
|||||||||
Share of amortization of equity investments' |
||||||||||||||||||
intangibles not on their books |
$ (173) |
$ 173 |
$ - |
$ (394) |
$ 394 |
$ - |
$ (223) |
$ 223 |
$ - |
|||||||||
Share of tax impacts related to amortization of |
||||||||||||||||||
equity investments' intangibles not on their books |
18 |
(18) |
- |
99 |
(99) |
- |
56 |
(56) |
- |
|||||||||
$ 5,534 |
$ 2,032 |
$ 7,566 |
$ 93 |
$ 2,882 |
$ 2,975 |
$ (6,190) |
$ 2,427 |
$ (3,763) |
||||||||||
Nine months ended |
||||||||||||||||||
September 30, 2016 |
September 30, 2015 |
|||||||||||||||||
Non-GAAP |
Non-GAAP |
|||||||||||||||||
Actual |
Adjustments |
Results |
Actual |
Adjustments |
Results |
|||||||||||||
To adjust stock-based compensation |
$ 4,320 |
$ 4,396 |
||||||||||||||||
To adjust amortization of intangible |
||||||||||||||||||
assets resulting from business acquisitions |
1,996 |
1,735 |
||||||||||||||||
To adjust gain on sale of investments |
(1,559) |
- |
||||||||||||||||
To adjust the gain resulting from the fair |
||||||||||||||||||
value changes in investments |
(849) |
(673) |
||||||||||||||||
To adjust tax impacts related |
||||||||||||||||||
to amortization of intangible assets |
(546) |
(296) |
||||||||||||||||
Earning (Loss) from equity method investments, net |
$ (10,604) |
$ 3,362 |
$ (7,242) |
$ 1,905 |
$ 5,162 |
$ 7,067 |
||||||||||||
Share of amortization of equity investments' |
||||||||||||||||||
intangibles not on their books |
$ (788) |
$ 788 |
$ - |
$ (1,186) |
$ 1,186 |
$ - |
||||||||||||
Share of tax impacts related to amortization of |
||||||||||||||||||
equity investments' intangibles not on their books |
172 |
(172) |
- |
297 |
(297) |
- |
||||||||||||
$ (11,220) |
$ 3,978 |
$ (7,242) |
$ 1,016 |
$ 6,051 |
$ 7,067 |
|||||||||||||
* Earning (Loss) from equity method investments is recorded one quarter in arrears. |
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sina-reports-third-quarter-2016-financial-results-300366756.html
SOURCE