Sina announces financial report, net revenue grows 7% year-on-year

 
Performance Essentials
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Net revenue was $211.1 million in the fourth quarter of 2014, at $197 million a year earlier. Non-US GAAP net revenue for the fourth quarter of 2014 was $208.5 million trillion, compared with $192.3 million a year earlier.
 
Internet advertising revenue was $181.9 million in the fourth quarter of 2014, at $160.1 million a year earlier. The year-on-year increase in online advertising revenue was mainly attributable to a 31.9 million dollar increase in microblog advertising revenue, although growth was partially offset by a drop of 10.1 million dollars in revenue from portal advertising.
 
Gross margin was 65% in the fourth quarter of 2014 and 64% in the same period a year earlier. In the fourth quarter of 2014, the gross profit margin of advertising business was 65%, a year earlier 64%. 2014 The fourth quarter of the non-advertising business gross profit margin of 62%.
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Operating expenses for the fourth quarter of 2014 were $132.9 million trillion, compared with $99.5 million a year earlier. Non-US GAAP operating expenses for the fourth quarter of 2014 were $123.3 million trillion, up from $94.3 million a year earlier, mainly related to the increase in human costs, marketing spending and the provision of bad loans.
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Non-operating earnings for the fourth quarter of 2014 were USD 64.1 million, compared with $24.5 million a year earlier. Includes: 1 days Pigeon Interactive Holding Co., Ltd. the initial public offering of 49.2 million U.S. dollars, the day pigeon is a real-time social video company we invest in, 2 we invest in the network lottery sales platform Love color network distribution of 7.8 million U.S. dollars dividend; 3 3.2 million dollar equity investment income, Based on non-US general accounting standards, the proceeds are 5.6 million dollars. Equity investment proceeds are calculated on the basis of equity law, and earnings are deferred for a quarter.
 
As of December 31, 2014, Sina's cash, cash equivalents and short-term investments amounted to USD 2.2 billion, up to December 31, 2013 of USD 1.9 billion. The increase in cash, cash equivalents and short-term investments was mainly due to the cash and earnings from Alibaba in the second quarter of 2014, which were obtained by the company to exercise its microblog options, but were offset by investment and share buybacks in 2014.
 
Management job tuning
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Sina announces that management positions are adjusted as follows: The former chief financial officer, Yu Zhengjun, will assume a new position as the chief financial officer of the company's subsidiary, the microblog company, Zhang Yi, the chief financial officer of the former microblog company, will be the chief financial officer of Sina. These two job adjustments will take effect immediately.
 
Performance Outlook
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Sina expects 2015 non-US General accountingThe benchmark net revenue will be between 800 million and 900 million dollars, excluding the 10.4 million-dollar deferred income from the easy habitat. (Mingyu)