Chinese online company Sina Corporation announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2010.
For the fourth quarter, net revenues grew 12% year over year to USD110.0 million. Advertising revenues and non-GAAP advertising revenues grew 30% year over year to a record USD82.5 million, reaching the high end of the company’s guidance between USD81 million and USD83 million.
For the full year of 2010, net revenues grew 12% year over year to USD402.6 million. Non-GAAP net revenues grew 17% year over year to USD383.6 million. Advertising revenues grew 28% year over year to USD290.8 million. Non-advertising revenues decreased 14% year over year to USD111.8 million.
Gross margin for the fourth quarter of 2010 was 58%, up from 56% for the same period last year.
Net loss attributable to Sina for the fourth quarter of 2010 was USD100.0 million, compared to a net income attributable to Sina of USD372.1 million for the same period last year.
Sina estimates that its non-GAAP net revenues for the first quarter of 2011 to be between USD93 million and USD96 million, with non-GAAP advertising revenues to be between USD71 million and USD73 million and non-GAAP non-advertising revenues to be between USD22 million and USD23 million.