BEIJING, Aug. 7 (InfoChina) – Sina Corp. (Nasdaq: SINA) reported a 38 percent year-on-year increase of net profit to 14.5 million US dollars in the second quarter of 2007, due to “satisfying development of Internet advertising business”.
In the second quarter of 2007, Sina achieved a net profit of 14.5 million dollars and earnings per share of 25 cents, compared to a net profit of 10.4 million dollars and earnings per share of 18 cents in 2Q’06.
The company’s sales revenues amounted to 59.8 million dollars, up 11 percent from 53.7 million dollars in the previous same period. Noticeably, the company realized advertising revenues of 41.2 million dollars for the second quarter of 2007, up 40 percent year on year.
The company presented a better performance than expected, which predicted sale revenues of 59.6 million dollars and earnings per share of 24 cents.
Sina estimated total revenues for the third quarter 2007 to be in the range of 63 million to 65 million dollars, including 45 million to 46 million dollars from advertising sales, which corresponds with expected 64.8 million dollars.
Sina also named Herman Yu CFO of the company, which was effective immediately. Herman Yu previously served as acting CFO, and joined Sina September 2004 as vice president and corporate controller. (Edited by Yang Liu,
)
China Stock News 
