China’s Swings to Profit:

China’s Swings to Profit: Chinese-language Internet company posted a second-quarter profit of $1.5 million, its first ever. Sina is the last of China’s three Internet companies to reach profitability according to U.S. generally accepted accounting principles, or GAAP. Like the other two firms, and Inc., Sina brought an end to years of losses through revenue from new services that capitalize on China’s over 200 million mobile-phone users.

Sina has also started to use some of its cash hoard, raised from its Nasdaq initial public offering in 2000, on new ventures aimed at expanding its presence in key markets.

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