Earnings: Sina’s Q2 Profits Fall 45%

Sina, one of the big Chinese portal players, posted a 45 percent decline in its Q2 profits, as the company continued to diversify its revenue stream away from mobile messaging.

Net income: $10 million, compared with $18 million in the year-ago quarter. Revenues fell 6.3 percent to $46.1 million from $49.2 million a year earlier.

Ad revenues for grew 31% year-over-year to $20.4 million, accounting for 44% of total revenues. Non-ad revenues for the quarter declined 24% year-over-year to $25.8 million, accounting for 56% of total revenues.

Full details in the release here

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