Sina banks on Weibo but weak fourth quarter guidance spooks investors

Release time：2012-11-21
Browse：3743

Chinese Internet company Sina Corp said its fourth quarter will be hit by a softer economy and posted weaker-than-expected sales
guidance, despite a stronger revenue contribution from its hot microblogging platform Weibo.
Sina, which makes most of its revenue from online advertising both on its website and Weibo, is facing stiff headwinds as firms slash
advertising budgets due to a worsening economic outlook.

There were about 230,000 Weibo advertising accounts in the quarter, and Sina was in the process of rolling out a online payment system
and new Weibo advertising product to increase monetization at the end of the fourth quarter.

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