Things are certainly hard for the Chinese portal triumverates: Sina said quarterly profits plunged 21 percent on softening mobile service sales and forecast more weakness this year. It had a net income of $13.8 million compared with $17.4 million a year earlier. Q4 revenues fell 9 percent to $52.0 million.
Advertising revenue grew 37 percent to $25 million, while non-advertising revenue, most of which is the company’s wireless services business, fell 30 percent to $26.9 million.
Sina forecast its mobile services revenue — which accounted for nearly half of the company’s total in Q4 — would decline in the high single-digit percentage range sequentially in Q1 and Q2 this year.
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